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)

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. Read the Bill »

Outcome

Bill Has Passed

History

Date	Action
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)

Video

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.

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