Tobacco Region Revitalization Commission; financial viability & feasibility. (SB1440)
Introduced By
Sen. Frank Ruff (R-Clarksville)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Tobacco Indemnification and Community Revitalization Commission; financial viability and feasibility study prior to disbursement; Virginia Tobacco Region Revolving Fund. Renames the Tobacco Indemnification and Community Revitalization Commission as the Tobacco Region Revitalization Commission (the Commission) and requires it to contract with a manager with respect to Commission loans, grants, and other distributions of money. The bill requires the manager to provide a written report on the financial viability and feasibility of any such distribution and prohibits the Commission from making the distribution until its viability and feasibility have received recommendations from the manager. The bill eliminates future appointments of six nonlegislative citizen members, all tobacco producers, and requires 13 of the remaining 25 Commission members to have experience in particular fields. The bill requires the Commission to adopt policies governing the Tobacco Region Opportunity Fund; to require a dollor-for-dollar match from entities receiving grants; to make no distribution to a tobacco-dependent community solely based on the historical production of tobacco; to require each project to have an accountability matrix, provide a set of quantified outcome expectations and other figures, and demonstrate how it will address low employment levels or other indicators; to develop a strategic plan every two years; and to establish a public database of awards. The bill also establishes the Virginia Tobacco Region Revolving Fund (the Fund), the assets of which are to be used to make loans to local governments for the financing of any project. The bill empowers the Virginia Resources Authority (the Authority) to administer the Fund, pledge assets of the Fund as security for bonds issued to finance a project, sell or collect on loans made from the Fund, and, in accordance with a memorandum of agreement with the Commission, establish the rates and terms of loans. The bill directs the Commission, in conjunction with the Authority, to make an annual report to the General Assembly and the Governor on all loans made from the Fund. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/23/2015 | Presented and ordered printed |
01/23/2015 | Presented and ordered printed 15103467D |
01/23/2015 | Referred to Committee on Agriculture, Conservation and Natural Resources |
01/29/2015 | Impact statement from DPB (SB1440) |
02/05/2015 | Reported from Agriculture, Conservation and Natural Resources with substitite (14-Y 0-N) (see vote tally) |
02/05/2015 | Committee substitute printed 15104792D-S1 |
02/09/2015 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/10/2015 | Impact statement from DPB (SB1440S1) |
02/10/2015 | Read second time |
02/10/2015 | Reading of substitute waived |
02/10/2015 | Committee substitute agreed to 15104792D-S1 |
02/10/2015 | Reading of amendments waived |
02/10/2015 | Amendments by Senator Norment agreed to |
02/10/2015 | Engrossed by Senate - committee substitute with amendments SB1440ES1 |
02/10/2015 | Printed as engrossed 15104792D-ES1 |
02/10/2015 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/10/2015 | Passed Senate (38-Y 0-N) (see vote tally) |
02/11/2015 | Impact statement from DPB (SB1440ES1) |
02/12/2015 | Placed on Calendar |
02/12/2015 | Read first time |
02/12/2015 | Referred to Committee on Agriculture, Chesapeake and Natural Resources |
02/18/2015 | Reported from Agriculture, Chesapeake and Natural Resources with substitute (21-Y 1-N) (see vote tally) |
02/18/2015 | Committee substitute printed 15105115D-H1 |
02/19/2015 | Read second time |
02/20/2015 | Read third time |
02/20/2015 | Committee substitute agreed to 15105115D-H1 |
02/20/2015 | Amendments by Delegate Kilgore agreed to |
02/20/2015 | Engrossed by House - committee substitute with amendments SB1440H1 |
02/20/2015 | Passed House with substitute with amendments (93-Y 2-N) |
02/20/2015 | VOTE: PASSAGE (93-Y 2-N) (see vote tally) |
02/20/2015 | Impact statement from DPB (SB1440H1) |
02/24/2015 | House substitute with amendments rejected by Senate (1-Y 38-N) (see vote tally) |
02/25/2015 | House insisted on substitute with amendments |
02/25/2015 | House requested conference committee |
02/26/2015 | Senate acceded to request (37-Y 0-N) (see vote tally) |
02/26/2015 | Conferees appointed by Senate |
02/26/2015 | Senators: Ruff, Chafin, Dance |
02/26/2015 | Conferees appointed by House |
02/26/2015 | Delegates: Kilgore, Marshall, Daniel W., Spruill |
02/27/2015 | C Amended by conference committee |
02/27/2015 | Conference substitute printed 15105632D-S2 |
02/27/2015 | Conference report agreed to by House (98-Y 0-N) |
02/27/2015 | VOTE: ADOPTION (98-Y 0-N) (see vote tally) |
02/27/2015 | Conference report agreed to by Senate (37-Y 0-N) (see vote tally) |
02/27/2015 | Impact statement from DPB (SB1440S2) |
03/06/2015 | Enrolled |
03/06/2015 | Bill text as passed Senate and House (SB1440ER) |
03/06/2015 | Signed by Speaker |
03/07/2015 | Signed by President |
03/09/2015 | Impact statement from DPB (SB1440ER) |
03/10/2015 | Enrolled Bill Communicated to Governor on 3/10/15 |
03/10/2015 | G Governor's Action Deadline Midnight, Sunday, March 29, 2015 |
03/23/2015 | G Approved by Governor-Chapter 433 (effective 7/1/15) |
03/23/2015 | G Acts of Assembly Chapter text (CHAP0433) |