Economic development; incentive financing for major employment and investment projects, report. (HB2550)

Introduced By

Del. Kirk Cox (R-Colonial Heights) with support from 30 copatrons, whose average partisan position is:

Progress

√
 Introduced
√
 Passed Committee
√
 Passed House
√
 Passed Senate
√
 Signed by Governor
√
 Became Law

Description

Economic development; incentive financing for major employment and investment projects. Authorizes the Virginia Public Building Authority and the Virginia Resources Authority to finance economic development initiatives for major employment and investmentprojects (MEI projects) performed by state and local government entities. An MEI project is defined as a high impact regional economic development project in which a private entity is expected to make a capital investment in real and tangible personal property exceeding $250 million and create more than 400 new full-time jobs, and is expected to have a substantial direct economic impact on surrounding communities. The bill also establishes the MEI Project Approval Commission to review financing for individual incentive packages for MEI projects to be financed by the Virginia Public Building Authority. Amends § 2.2-2260, § 2.2-2261, § 2.2-2263, § 2.2-3705.6, § 30-309, § 30-312, § 62.1-198, § 62.1-199, of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

History

  • 01/20/2009 Committee
  • 01/20/2009 Presented and ordered printed 092358812
  • 01/20/2009 Referred to Committee on General Laws
  • 01/22/2009 Referred to Committee on General Laws
  • 01/23/2009 Impact statement from DPB (HB2550)
  • 01/27/2009 Referred from General Laws
  • 01/27/2009 Referred to Committee on Appropriations
  • 01/28/2009 Assigned App. sub: Economic Development, Agriculture and Natural Resources(Cox)
  • 02/05/2009 Subcommittee recommends reporting
  • 02/06/2009 Reported from Appropriations with substitute (23-Y 0-N) (see vote tally)
  • 02/06/2009 Committee substitute printed 092404476-H1
  • 02/08/2009 Read first time
  • 02/09/2009 Read second time
  • 02/09/2009 Committee substitute agreed to 092404476-H1
  • 02/09/2009 Engrossed by House - committee substitute HB2550H1
  • 02/10/2009 Read third time and passed House (99-Y 0-N)
  • 02/10/2009 VOTE: --- PASSAGE (99-Y 0-N) (see vote tally)
  • 02/11/2009 Constitutional reading dispensed
  • 02/11/2009 Referred to Committee on Finance
  • 02/12/2009 Impact statement from DPB (HB2550H1)
  • 02/17/2009 Reported from Finance with substitute (12-Y 3-N) (see vote tally)
  • 02/17/2009 Committee substitute printed 092929212-S1
  • 02/18/2009 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
  • 02/19/2009 Read third time
  • 02/19/2009 Reading of substitute waived
  • 02/19/2009 Committee substitute agreed to 092929212-S1
  • 02/19/2009 Engrossed by Senate - committee substitute HB2550S1
  • 02/19/2009 Passed Senate with substitute (37-Y 3-N) (see vote tally)
  • 02/19/2009 Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
  • 02/19/2009 Passed Senate with substitute (40-Y 0-N) (see vote tally)
  • 02/20/2009 Placed on Calendar
  • 02/20/2009 Impact statement from DPB (HB2550S1)
  • 02/23/2009 Senate substitute rejected by House (0-Y 98-N 1-A)
  • 02/23/2009 VOTE: --- REJECTED (0-Y 98-N 1-A) (see vote tally)
  • 02/25/2009 Senate insisted on substitute (40-Y 0-N) (see vote tally)
  • 02/25/2009 Senate requested conference committee
  • 02/26/2009 House acceded to request
  • 02/26/2009 Conferees appointed by House
  • 02/26/2009 Delegates: Cox, Hogan, Joannou
  • 02/26/2009 Conferees appointed by Senate
  • 02/26/2009 Senators: Colgan, Stosch, Stolle
  • 02/28/2009 Conference report agreed to by House (92-Y 0-N)
  • 02/28/2009 VOTE: --- ADOPTION (92-Y 0-N) (see vote tally)
  • 02/28/2009 Conference report agreed to by Senate (38-Y 0-N) (see vote tally)
  • 03/09/2009 Enrolled
  • 03/09/2009 Bill text as passed House and Senate (HB2550ER)
  • 03/09/2009 Signed by President
  • 03/11/2009 Signed by Speaker
  • 03/12/2009 Impact statement from DPB (HB2550ER)
  • 03/27/2009 G Approved by Governor-Chapter 246 (effective 7/1/09)
  • 03/27/2009 G Acts of Assembly Chapter text (CHAP0246)