Research and development; changes related to the funding and oversight of initiatives. (SB1597)
Introduced By
Sen. Dick Saslaw (D-Springfield)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Research and development in the Commonwealth. Makes several changes related to the funding and oversight of research and development initiatives in the Commonwealth. The bill codifies the existing Virginia Biosciences Health Research Corporation (VBHRC) and brings it under the authority of the Innovation and Entrepreneurship Investment Authority (IEIA). The bill also creates a new Capital Research Investment Advisory Committee (Investment Committee), and an accompanying nonstock, nonprofit corporation under the IEIA, to oversee early and seed-stage venture capital investments. The Virginia Research Investment Committee (VRIC) would provide guidance to the IEIA and the Investment Committee. The Board membership of the IEIA is expanded to include the chairman of the VRIC and the VBHRC. Finally, the bill directs the Secretaries of Commerce and Trade and Education to convene a stakeholder group to review a recent technology report and make recommendations concerning the allocation of resources related to research, development, and commercialization. Read the Bill »
Status
01/31/2019: Incorporated into Another Bill
History
Date | Action |
---|---|
01/09/2019 | Prefiled and ordered printed; offered 01/09/19 19102131D |
01/09/2019 | Referred to Committee on Commerce and Labor |
01/21/2019 | Rereferred from Commerce and Labor (13-Y 0-N) (see vote tally) |
01/21/2019 | Rereferred to Finance |
01/31/2019 | Incorporated by Finance (SB1651-Howell) (16-Y 0-N) (see vote tally) |