Virginia Collaborative Economic Development Act; established. (SB459)

Introduced By

Sen. Frank Ruff (R-Clarksville) with support from co-patron Sen. Dick Saslaw (D-Springfield)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Collaborative Economic Development Act. Creates the Virginia Collaborative Economic Development Performance Grant Fund. Two or more localities that collaborate and adopt a collaborative economic development plan will be eligible for grants from the fund over a period of six years if the collaboration results in the location or expansion of a company in the Commonwealth that (i) creates at least 200 new jobs with average salaries at least 25 percent higher than the average wage and (ii) makes a capital investment of at least $25 million. The total amount of the grant applied for shall not exceed the total investment of the localities in executing the collaborative economic development plan, and each annual installment of the grant may not exceed 50 percent of the total annual amount of personal income tax withheld by the certified company from the newly created jobs. Of each annual installment of the grant, 85 percent will be distributed to the participating localities in accordance with the terms of the collaborative economic development plan, and 15 percent will be retained by the Virginia Economic Development Partnership to be used to enhance regional and statewide economic development marketing and promotion. Read the Bill »

Status

03/10/2016: Passed the House

History

DateAction
01/12/2016Prefiled and ordered printed; offered 01/13/16 16102376D
01/12/2016Referred to Committee on Finance
01/29/2016Impact statement from DPB (SB459)
02/09/2016Reported from Finance with substitute (15-Y 0-N) (see vote tally)
02/09/2016Committee substitute printed 16105270D-S1
02/10/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/11/2016Read second time
02/11/2016Reading of substitute waived
02/11/2016Committee substitute agreed to 16105270D-S1
02/11/2016Engrossed by Senate - committee substitute SB459S1
02/11/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/11/2016Passed Senate (36-Y 4-N) (see vote tally)
02/11/2016Reconsideration of passage agreed to by Senate (39-Y 0-N) (see vote tally)
02/11/2016Passed Senate (38-Y 2-N) (see vote tally)
02/15/2016Placed on Calendar
02/15/2016Read first time
02/15/2016Referred to Committee on Appropriations
02/16/2016Impact statement from DPB (SB459S1)
02/22/2016Assigned App. sub: Commerce, Agriculture, Natural Resources and Technology
03/07/2016Reported from Appropriations with substitute (20-Y 0-N) (see vote tally)
03/07/2016Committee substitute printed 16106188D-H1
03/09/2016Read second time
03/10/2016Read third time
03/10/2016Committee substitute agreed to 16106188D-H1
03/10/2016Engrossed by House - committee substitute SB459H1
03/10/2016Passed House with substitute (91-Y 6-N)
03/10/2016VOTE: PASSAGE (91-Y 6-N) (see vote tally)
03/10/2016House substitute rejected by Senate (1-Y 38-N) (see vote tally)
03/10/2016House insisted on substitute
03/10/2016House requested conference committee
03/10/2016Senate acceded to request (38-Y 0-N) (see vote tally)
03/10/2016Conferees appointed by Senate
03/10/2016Senators: Ruff, Saslaw, Hanger
03/10/2016Conferees appointed by House
03/10/2016Delegates: Hugo, Jones, James
03/11/2016C Amended by conference committee
03/11/2016Conference substitute printed 16106387D-S2
03/11/2016Conference report agreed to by Senate (36-Y 2-N) (see vote tally)
03/11/2016Conference report agreed to by House (89-Y 8-N)
03/11/2016VOTE: ADOPTION (89-Y 8-N) (see vote tally)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 4 clips in all, totaling 5 minutes.

Transcript

This is a transcript of the video clips in which this bill is discussed.



Del. Bill Howell (R-Fredericksburg): THANK YOU. THE QUESTION IS SHALL SENATE BILL 449 PASS? ALL IN FAVOR WILL RECORD THEIR VOTES, AYE. SENATORS READY TO VOTE. ANY SENATORS DESIRE TO CHANGE THE VOTES? THE CLERK WILL CLOSE THE ROLL. AYES 34. NOs 5. THE BILL PASSES.

Sen. Frank Wagner (R-Virginia Beach): SENATE BILL 459 AN ACT RELATING TO THE VIRGINIA COLLABORATIVE ECONOMIC DEVELOPMENT ACT. ON FINANCE WITH THE SUBSTITUTE.

[Unknown]: SENATOR RUFF.

Sen. Frank Wagner (R-Virginia Beach): I MOVE WE SUSPEND THE RULES AND SUSPENSE WITH SECOND CONSTITUTIONAL READING.

Del. Bill Howell (R-Fredericksburg): THE QUESTION IS SHALL THE RULES BE SUSPENDED AND SECOND CONSTITUTIONAL READING. ALL IN FAVOR RECORD AYE. THOSE OPPOSED, NO. HAVE ALL THE SENATORS VOTED? ANY SENATORS DESIRE TO CHANGE THEIR VOTES? THE CLERK WILL CLOSE THE ROLL.

[Unknown]: AYES 39. NOs 0. THE MOTION IS AGREED TO. SENATOR RUFF. I MOVE THAT WE AGREE TO THE SUBSTITUTE. THANK YOU. THE COMBE IS SHALL THE SUBSTITUTE BE AGREED TO. ALL IN FAVOR WILL SAY AYE. THE SUBSTITUTE IS AGREED TO. MR. PRESIDENT, I MOVE THE DEAL BE ENGROSSED AND ADVANCE TO IN THIRD READING. ALL IN FAVOR OF THE MOTION WILL SAY AYE. THOSE OPPOSED, NO. SENATOR RUFF. I MOVE WE SUSPENDED RULES WITH THE THIRD CONSTITUTIONAL READING. SHOULD THE RULES BE SUSPENDED IN THE THIRD CONSTITUTIONAL READING BE DISPENSED WITH? THE SENATORS READY TO VOTE. HAVE ALL THE SENATORS VOTED? ANY SENATORS DESIRE TO CHANGE THEIR VOTES? AYES 37, NOs 0. THE MOTION IS AGREED TO. THE SENATOR FROM MECKLENBERG.

Del. Bill Howell (R-Fredericksburg): THIS IS THE AGREEMENT BETWEEN TWO OR MORE LOCALITIES PART OF VIRGINIA. REMOVES LANGUAGE THAT WAS NOT NECESSARY. AND HAS THE SAME PIECE THAT GENTLEMAN FROM WILLIAMSBURG JUST MENTIONED ABOUT NO FUNDS WILL BE