Semiconductor Manufacturing Grant Fund; created. (SB1370)

Introduced By

Sen. Tommy Norment (R-Williamsburg) with support from 7 copatrons, whose average partisan position is:

Those copatrons are Sen. George Barker (D-Alexandria), Sen. Emmett Hanger (R-Mount Solon), Sen. Jeremy McPike (D-Dale City), Sen. Frank Ruff (R-Clarksville), Sen. Richard Stuart (R-Westmoreland), Sen. Scott Surovell (D-Mount Vernon), Sen. Jill Holtzman Vogel (R-Winchester)

Progress

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

Description

Semiconductor Manufacturing Grant Fund; creation. Creates the Semiconductor Manufacturing Grant Fund for the award of grants to a qualified semiconductor manufacturing company that makes a capital investment of at least $2.98 billion in a qualified locality and creates and maintains at least 1,106 new jobs with an average annual wage of at least $92,000. Such a qualified company would be eligible to receive a grant of $50 million in fiscal year 2020 and a grant of $20 million in fiscal year 2021, subject to total or partial recapture if the qualified company does not meet the performance metrics agreed to in a memorandum of understanding with the Commonwealth. Read the Bill »

Status

01/08/2019: Awaiting a Vote in the Finance Committee

History

DateAction
01/08/2019Prefiled and ordered printed; offered 01/09/19 19102238D
01/08/2019Referred to Committee on Finance
01/14/2019Impact statement from DPB (SB1370)

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