SB 674
Creates a grant program for employers to enhance cybersecurity
Sponsor:
LR Number:
4298S.04C
Last Action:
5/11/2022 - Informal Calendar S Bills for Perfection
Journal Page:
Title:
SCS SB 674
Calendar Position:
Effective Date:
August 28, 2022

Current Bill Summary

SCS/SB 674 - This act allows the Department of Economic Development (DED) to distribute one-time grants to employers for the purpose of enhancing cybersecurity, as defined in the act. Grants are limited to $15,000 per employer and require a 10% match from the employer. In distributing grants, DED shall distribute an equal amount of awards to the following groups of employers:

· Employers with 1-49 employees;

· Employers with 50-249 employees; and

· Employers with more than 249 employees.

DED is required to create an on-line application form as part of its website which is to be the sole means of applying for grants. Employers seeking a grant must fill out the application along with documents outlining how it plans to enhance cybersecurity, including plans for how the grant money will be spent and how it plans to cover the remaining 10% cost for its cybersecurity enhancement. The act limits the factors that DED may consider in assessing an employer's funding plans.

Applications must be accepted by DED beginning October 1, 2022.

Any employer that receives funds pursuant to this act must submit documentation to DED, not later than one year after receiving the funds, showing how the funds were spent.

The act limits the amount that may be distributed under this act to $10 million each fiscal year.

In the case of employers with employees and locations in more than one state, grant funds distributed pursuant to this act may only be used for locations in Missouri and employees residing in Missouri.

This act is substantially similar to HB 2436 (2022).

SCOTT SVAGERA

Amendments

No Amendments Found.