VA HB1457 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 5 2024 - 100% progression
Action: 2024-04-05 - Governor: Acts of Assembly Chapter text (CHAP0563)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 5 2024 - 100% progression
Action: 2024-04-05 - Governor: Acts of Assembly Chapter text (CHAP0563)
Text: Latest bill text (Chaptered) [HTML]
Summary
Virginia investment performance grants; Virginia economic development incentive grants. Requires, for any Virginia investment performance grant award determination that includes a job creation requirement, an eligible manufacturer or research and development service to pay an average wage, excluding fringe benefits, that is no less than the prevailing average wage for such new jobs. Under the bill, beginning July 1, 2024, (i) the aggregate amount of Virginia investment performance grants payable to all grant recipients in any fiscal year shall not exceed $7 million and (ii) grants shall be payable in amounts up to $5 million per eligible manufacturer or research and development service in five equal, annual installments of up to $1 million, beginning in the first year after verification of capital investment and pledged employment. The bill also provides that eligible companies shall be eligible to receive Virginia economic development incentive grants in the first year after verification that requirements applicable to such grant are satisfied. The bill contains an enactment clause clarifying that no existing agreement entered into prior to the effective date of the bill shall be impacted by the bill. Virginia investment performance grants; Virginia economic development incentive grants. Requires, for any Virginia investment performance grant award determination that includes a job creation requirement, an eligible manufacturer or research and development service to pay an average wage, excluding fringe benefits, that is no less than the prevailing average wage for such new jobs. Under the bill, beginning July 1, 2024, (i) the aggregate amount of Virginia investment performance grants payable to all grant recipients in any fiscal year shall not exceed $7 million and (ii) grants shall be payable in amounts up to $5 million per eligible manufacturer or research and development service in five equal, annual installments of up to $1 million, beginning in the first year after verification of capital investment and pledged employment. The bill also provides that eligible companies shall be eligible to receive Virginia economic development incentive grants in the first year after verification that requirements applicable to such grant are satisfied. The bill contains an enactment clause clarifying that no existing agreement entered into prior to the effective date of the bill shall be impacted by the bill.
Title
Virginia Investment Performance Grant; economic development incentive grants.
Sponsors
| Del. Betsy Carr [D] |
Roll Calls
2024-03-08 - House - House: VOTE: Adoption (93-Y 6-N) (Y: 93 N: 6 NV: 0 Abs: 1) [PASS]
2024-03-08 - Senate - Senate: Conference report agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-05 - Senate - Senate: Senate insisted on substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-04 - House - House: VOTE: REJECTED (1-Y 96-N) (Y: 1 N: 96 NV: 0 Abs: 3) [FAIL]
2024-03-01 - Senate - Senate: Passed Senate with substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-29 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-28 - Senate - Senate: Reported from Finance and Appropriations with substitute (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-08 - House - House: VOTE: Block Vote Passage (98-Y 0-N) (Y: 98 N: 0 NV: 0 Abs: 2) [PASS]
2024-02-02 - House - House: Reported from Appropriations with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2024-01-31 - House - House: Subcommittee recommends reporting with substitute (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 1) [PASS]
2024-03-08 - Senate - Senate: Conference report agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-05 - Senate - Senate: Senate insisted on substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-04 - House - House: VOTE: REJECTED (1-Y 96-N) (Y: 1 N: 96 NV: 0 Abs: 3) [FAIL]
2024-03-01 - Senate - Senate: Passed Senate with substitute (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-29 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-28 - Senate - Senate: Reported from Finance and Appropriations with substitute (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-08 - House - House: VOTE: Block Vote Passage (98-Y 0-N) (Y: 98 N: 0 NV: 0 Abs: 2) [PASS]
2024-02-02 - House - House: Reported from Appropriations with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2024-01-31 - House - House: Subcommittee recommends reporting with substitute (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-04-05 | Governor: Acts of Assembly Chapter text (CHAP0563) | |
| 2024-04-05 | Governor: Approved by Governor-Chapter 563 (effective 7/1/24 - see bill) | |
| 2024-03-27 | Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024 | |
| 2024-03-27 | House | Enrolled Bill communicated to Governor on March 27, 2024 |
| 2024-03-26 | House | Signed by Speaker |
| 2024-03-25 | Senate | Signed by President |
| 2024-03-25 | House | Bill text as passed House and Senate (HB1457ER) |
| 2024-03-25 | House | Enrolled |
| 2024-03-08 | Senate | Conference report agreed to by Senate (40-Y 0-N) |
| 2024-03-08 | House | VOTE: Adoption (93-Y 6-N) |
| 2024-03-08 | House | Conference report agreed to by House (93-Y 6-N) |
| 2024-03-08 | House | Conference substitute printed 24109091D-H2 |
| 2024-03-08 | Conference: Amended by conference committee | |
| 2024-03-07 | Senate | Senators: Carroll Foy, Boysko, Stuart |
| 2024-03-07 | Senate | Conferees appointed by Senate |
| 2024-03-06 | House | Delegates: Carr, Sewell, Austin |
| 2024-03-06 | House | Conferees appointed by House |
| 2024-03-06 | House | House acceded to request |
| 2024-03-05 | Senate | Senate requested conference committee |
| 2024-03-05 | Senate | Senate insisted on substitute (40-Y 0-N) |
| 2024-03-04 | House | VOTE: REJECTED (1-Y 96-N) |
| 2024-03-04 | House | Senate substitute rejected by House 24108455D-S1 (1-Y 96-N) |
| 2024-03-01 | Senate | Passed Senate with substitute (40-Y 0-N) |
| 2024-03-01 | Senate | Engrossed by Senate - committee substitute HB1457S1 |
| 2024-03-01 | Senate | Committee substitute agreed to 24108455D-S1 |
| 2024-03-01 | Senate | Reading of substitute waived |
| 2024-03-01 | Senate | Read third time |
| 2024-02-29 | Senate | Constitutional reading dispensed (39-Y 0-N) |
| 2024-02-28 | Senate | Committee substitute printed 24108455D-S1 |
| 2024-02-28 | Senate | Reported from Finance and Appropriations with substitute (14-Y 0-N) |
| 2024-02-09 | Senate | Referred to Committee on Finance and Appropriations |
| 2024-02-09 | Senate | Constitutional reading dispensed |
| 2024-02-08 | House | VOTE: Block Vote Passage (98-Y 0-N) |
| 2024-02-08 | House | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
| 2024-02-07 | House | Engrossed by House - committee substitute HB1457H1 |
| 2024-02-07 | House | Committee substitute agreed to 24106516D-H1 |
| 2024-02-07 | House | Read second time |
| 2024-02-06 | House | Read first time |
| 2024-02-02 | House | Committee substitute printed 24106516D-H1 |
| 2024-02-02 | House | Reported from Appropriations with substitute (22-Y 0-N) |
| 2024-01-31 | House | Subcommittee recommends reporting with substitute (8-Y 0-N) |
| 2024-01-23 | House | Assigned App. sub: Commerce Agriculture & Natural Resources |
| 2024-01-18 | House | Referred to Committee on Appropriations |
| 2024-01-18 | House | Presented and ordered printed 24105328D |
