Referred to Jobs and Economic Development
Summary
The bill changes the eligibility rules for PROMISE grants, limiting them to businesses with annual revenue of $750,000 or less that operate in areas affected by racial discrimination, civil unrest, capital shortages, population loss, or limited economic diversity. It adds preferences for businesses that have not received more than $10,000 in prior state aid, can show financial hardship, and were operating in 2021, and sets maximum grant sizes based on revenue. Grants can be used for working capital such as payroll, rent, utilities, and equipment.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Track this bill
Get real-time alerts when SF 4972 changes status, plus AI-powered summaries and stage predictions.
Sign up free