Economic development incentives; disclosure to public. (HB2237)

Introduced By

Del. Michael Webert (R-Marshall)

Progress

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

Description

Economic development incentives; disclosure to public. Provides that no project that includes an offer of economic development incentives shall be approved by the Governor unless the essential terms of the offer are disclosed to the public no less than 21 days prior to approval. The bill defines essential terms as the aggregate amount of incentives to be provided by the Commonwealth, how the incentives are to be allocated, the projected return on investment for the Commonwealth, the projected time frame for repayment of the incentives, the Division of Incentives' projections for the number of new jobs that will be created and the average wage of those new jobs, and any proposed agreement between the Commonwealth and the recipient of the incentives regarding the Virginia Freedom of Information Act. Read the Bill »

Status

01/14/2019: Awaiting a Vote in the Appropriations Committee

History

DateAction
01/08/2019Committee
01/08/2019Prefiled and ordered printed; offered 01/09/19 19101330D
01/08/2019Referred to Committee on Appropriations
01/14/2019Assigned App. sub: Commerce, Agriculture, Natural Resources & Technology

Post a Public Comment About this Bill



if you have one


(Limited HTML is OK: <a>, <em>, <strong>, <s>)