Commonwealth's Development Opportunity Fund; limitation on use of moneys from the Fund. (HB2347)

Introduced By

Del. Kathy Byron (R-Lynchburg)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Commonwealth's Development Opportunity Fund; limitation on use of moneys from the Fund. Provides that unless an exception has been granted by the Secretary of Commerce and Trade, moneys in the Commonwealth's Development Opportunity Fund shall not be used for any economic development project involving a business that relocates or expands its operations in one or more Virginia localities while simultaneously closing its operations or substantially reducing the number of its employees in another Virginia locality. Under current law, this limitation on the use of the Fund is stated as a general policy rather than as a requirement. The bill also requires the Secretary of Commerce and Trade to provide written notice to the Chairmen of the Senate Finance and House Appropriations Committees at least 48 hours prior to the final approval of the grant or loan. Currently, the notice must be provided promptly, and a time frame is not specified. Read the Bill »


Bill Has Passed


01/14/2017Presented and ordered printed 17100090D
01/14/2017Referred to Committee on Appropriations
01/17/2017Assigned App. sub: Commerce, Agriculture, Natural Resources and Technology
01/23/2017Impact statement from DPB (HB2347)
01/25/2017Subcommittee recommends reporting with substitute (7-Y 0-N)
01/30/2017Reported from Appropriations with substitute (22-Y 0-N) (see vote tally)
01/30/2017Committee substitute printed 17104721D-H1
02/01/2017Read first time
02/01/2017Impact statement from DPB (HB2347H1)
02/02/2017Read second time
02/02/2017Committee substitute agreed to 17104721D-H1
02/02/2017Engrossed by House - committee substitute HB2347H1
02/03/2017Read third time and passed House BLOCK VOTE (95-Y 0-N)
02/03/2017VOTE: BLOCK VOTE PASSAGE (95-Y 0-N) (see vote tally)
02/06/2017Constitutional reading dispensed
02/06/2017Referred to Committee on Finance
02/14/2017Reported from Finance (16-Y 0-N) (see vote tally)
02/15/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2017Read third time
02/16/2017Passed Senate (39-Y 0-N) (see vote tally)
02/16/2017Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/16/2017Passed Senate (40-Y 0-N) (see vote tally)
02/20/2017Bill text as passed House and Senate (HB2347ER)
02/20/2017Impact statement from DPB (HB2347ER)
02/20/2017Signed by Speaker
02/21/2017Signed by President
02/21/2017Enrolled Bill communicated to Governor on 2/21/17
02/21/2017G Governor's Action Deadline Midnight, March 27, 2017
03/20/2017G Approved by Governor-Chapter 663 (effective 7/1/17)
03/20/2017G Acts of Assembly Chapter text (CHAP0663)


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.