Virginia House Bill 910 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2008 - 25% progression, died in chamber
Action: 2008-02-12 - House: Left in General Laws

Technology, Nanotechnology and Biotechnology Investment Fund created. Creates the Technology, Nanotechnology and Biotechnology Investment Fund to attract technology or biotechnology companies to, or assist those companies located in, the Commonwealth. Moneys in the Fund shall only be applied to qualified research expenses and basic research payments (as defined by § 41 of the Internal Revenue Code) for research conducted in the Commonwealth. Qualified research expenses are defined as in-house expenses or contract research expenses, paid by a technology or biotechnology company. Basic research payments are defined as payments made to companies and nonprofit research institutions and organizations located in the Commonwealth for research in technology and biotechnology. No grant to a company from the Fund is to exceed $500,000 per year. The Innovative Technology Authority shall administer this fund.

Technology, Nanotechnology and Biotechnology Investment Fund; created.

Del. Harry Purkey [R]

Date	Chamber	Action
2008-02-12		House: Left in General Laws
2008-01-17		House: Assigned GL sub: Professional/Occupational/Adminstrative Process
2008-01-08		House: Referred to Committee on General Laws
2008-01-08		House: Prefiled and ordered printed; offered 01/09/08 088352692

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+HB910