Tobacco Region Revitalization Commission; created, financial viability & feasibility. (HB2330)

Introduced By

Del. Terry Kilgore (R-Gate City)

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. Requires the Tobacco Indemnification and Community Revitalization Commission (the Commission) to enter into a management agreement 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 favorable recommendations from the manager. The bill eliminates future appointments of six nonlegislative citizen members, all tobacco producers, and requires 15 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

Bill Has Passed

History

DateAction
01/23/2015Presented and ordered printed 15103468D
01/23/2015Referred to Committee on Agriculture, Chesapeake and Natural Resources
01/26/2015Assigned ACNRsub: Agriculture
02/02/2015Impact statement from DPB (HB2330)
02/02/2015Subcommittee recommends reporting with amendment(s) (5-Y 2-N)
02/04/2015Reported from Agriculture, Chesapeake and Natural Resources with substitute (15-Y 7-N) (see vote tally)
02/04/2015Committee substitute printed 15104658D-H1
02/05/2015Read first time
02/06/2015Read second time
02/06/2015Committee substitute agreed to 15104658D-H1
02/06/2015Amendments by Delegate Kilgore agreed to
02/06/2015Engrossed by House - committee substitute with amendments HB2330EH1
02/06/2015Printed as engrossed 15104658D-EH1
02/09/2015Read third time and passed House (93-Y 4-N)
02/09/2015VOTE: PASSAGE (93-Y 4-N) (see vote tally)
02/10/2015Impact statement from DPB (HB2330EH1)
02/10/2015Constitutional reading dispensed
02/10/2015Referred to Committee on Agriculture, Conservation and Natural Resources
02/19/2015Reported from Agriculture, Conservation and Natural Resources with substitite (15-Y 0-N) (see vote tally)
02/19/2015Committee substitute printed 15105155D-S1
02/20/2015Impact statement from DPB (HB2330S1)
02/23/2015Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/24/2015Read third time
02/24/2015Reading of substitute waived
02/24/2015Committee substitute agreed to 15105155D-S1
02/24/2015Engrossed by Senate - committee substitute HB2330S1
02/24/2015Passed Senate with substitute (39-Y 0-N) (see vote tally)
02/24/2015Placed on Calendar
02/25/2015Senate substitute agreed to by House 15105155D-S1 (95-Y 2-N)
02/25/2015VOTE: ADOPTION (95-Y 2-N) (see vote tally)
03/06/2015Enrolled
03/06/2015Bill text as passed House and Senate (HB2330ER)
03/06/2015Signed by Speaker
03/07/2015Signed by President
03/09/2015Impact statement from DPB (HB2330ER)
03/10/2015Enrolled Bill communicated to Governor on 3/10/15
03/10/2015G Governor's Action Deadline Midnight, Sunday, March 29, 2015
03/23/2015G Approved by Governor-Chapter 399 (effective 7/1/15)
03/23/2015G Acts of Assembly Chapter text (CHAP0399)

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 2 minutes.