Industrial Development (Amendment) Bill 2019

Public bill · Government · Presented

The proposed changes would give Enterprise Ireland more flexibility to support Irish businesses, especially in research, development and innovation. It would let the agency fund some R&D in horticulture and outside Ireland where needed, remove a national cap so grants can be set within EU state-aid rules, and allow grants to be paid in advance; it would also let Enterprise Ireland make loans and some share investments, with government approval needed above €7.5 million. The measure would also raise the overall funding limit for IDA Ireland, Enterprise Ireland and Science Foundation Ireland, and increase the lending capacity of Microfinance Ireland to help firms cope with Brexit-related disruption.

Formal long title

Bill entitled an Act to extend the powers of Enterprise Ireland to make grants, make loans and purchase shares and to provide for other related matters and, for those and other purposes, to amend the Industrial Development Act 1986, the Industrial Development Act 1993, the Industrial Development (Enterprise Ireland) Act 1998 and the Microenterprise Loan Fund Act 2012; to provide for the repeal of Part 3 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2019; and to provide for related matters.

Last updated 17 January 2020