Commonwealth Innovation Investment Fund; created, report. (SB1440)
Introduced By
Sen. Mark Herring (D-Leesburg)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Research and technology funding; Commonwealth Innovation Investment Fund. Creates the Commonwealth Innovation Investment Fund. The Fund will be administered by the Innovation and Entrepreneurship Investment Authority to create, attract, retain, expand, and enhance technology research, innovation, and economic development in the Commonwealth. Beginning in 2013, the Fund will receive a portion of the income taxes withheld by science and innovation companies that employ persons in the Commonwealth. The percentage of the withheld taxes allocated to the Fund will be based on a percentage of the difference between the current year's withheld taxes and the amount withheld in 2012, the baseline year. Read the Bill »
Status
02/02/2011: Failed to Pass in Committee
History
| Date | Action |
|---|---|
| 01/21/2011 | Presented and ordered printed 11104213D |
| 01/21/2011 | Referred to Committee on Finance |
| 01/31/2011 | Impact statement from DPB (SB1440) |
| 02/02/2011 | Passed by indefinitely in Finance with letter (9-Y 3-N 1-A) (see vote tally) |
| 02/02/2011 | Letter sent to the Joint Legislative Audit and Review Commission |