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:

Those copatrons are Del. Clay Athey (R-Front Royal), Del. Kathy Byron (R-Lynchburg), Del. Ben Cline (R-Amherst), Del. Mark Cole (R-Fredericksburg), Del. Anne Crockett-Stark (R-Wytheville), Del. Phil Hamilton (R-Newport News), Del. Bill Howell (R-Fredericksburg), Del. Tim Hugo (R-Centreville), Del. Terry Kilgore (R-Gate City), Del. Steve Landes (R-Weyers Cave), Del. Scott Lingamfelter (R-Woodbridge), Del. Matt Lohr (R-Harrisonburg), Del. Danny Marshall (R-Danville), Del. Jimmie Massie (R-Richmond), Del. Don Merricks (R-Danville), Del. Jackson Miller (R-Manassas), Del. Harvey Morgan (R-Gloucester), Del. Sam Nixon (R-Richmond), Del. Dave Nutter (R-Christiansburg), Del. Glenn Oder (R-Newport News), Del. John O'Bannon (R-Richmond), Del. Chris Peace (R-Mechanicsville), Del. Brenda Pogge (R-Williamsburg), Del. Charles Poindexter (R-Glade Hill), Del. Tom Rust (R-Herndon), Del. Chris Saxman (R-Staunton), Del. Bob Tata (R-Virginia Beach), Del. Lee Ware (R-Powhatan), Del. Tommy Wright (R-Victoria), Sen. Bill Carrico (R-Grayson)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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. Read the Bill »


Bill Has Passed


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


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.