4-5.11#1c (Semiconductor Manufacturing Incentive Program) Semiconductor Manufacturing Incentive Programs. HB1600 - Conference Report

State Budget

1997 Session

Budget Amendments - HB1600 (Conference Report)

Bill Order » Item 4-5.11 #1c

View Budget Item
View Budget Item amendments

Semiconductor Manufacturing Incentive Programs (language only)

Item 4-5.11 #1c

Item 4-5.11 #1c
Special Conditions and Restrictions on Expenditures
Semiconductor Manufacturing Incentive Program

Language
Page 443, line 19, after "1997.", insert:
"For any semiconductor performance grant approved by the 1997 Session of the General Assembly, the House Appropriations and Senate Finance Committees shall have the opportunity to review the memorandum of understanding prior to its execution by the Commonwealth. Execution of the memorandum of understanding for performance grants approved by the 1997 Session shall occur no later than June 30, 1998."

Explanation
(This amendment requires a memorandum of understanding between the Commonwealth and any semiconductor manufacturer eligible for a semiconductor manufacturing performance grant authorized by the 1997 Session of the General Assembly. The memorandum of understanding covers production targets, levels of investment, and direct employment.)

Item 4-5.11

Item 4-5.11

§ 4-5.11 SEMICONDUCTOR MANUFACTURING INCENTIVE PROGRAMS

a. The Comptroller shall not draw any warrants to issue checks for ~~these~~ semiconductor manufacturing incentive programs, pursuant to Title 59.1, Chapter 22.3, Code of Virginia, without a specific legislative appropriation. The appropriation shall be in accordance with the terms and conditions set forth in a memorandum of understanding between a qualified manufacturer and the Commonwealth. These terms and conditions shall supplement the provisions of the Semiconductor Manufacturing Performance Grant Program and the Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Program, as applicable, and shall include but not be limited to the numbers and types of semiconductor wafers that are produced; the level of investment directly related to the building and equipment for manufacturing of wafers or activities ancillary to or supportive of such manufacturer within the eligible locality; and the direct employment related to these programs. To that end, the Secretary of Commerce and Trade shall certify in writing to the Governor and to the Chairmen of the House Appropriations and Senate Finance Committees the extent to which a qualified manufacturer met the terms and conditions. The appropriation shall be made in full or in proportion to a qualified manufacturer's fulfillment of the memorandum of understanding.

b. The Governor shall consult with the House Appropriations and Senate Finance Committees before entering into any memorandum of understanding. These Committees shall have the opportunity to review any memorandum of understanding prior to its execution by the Commonwealth. Execution of this memorandum of understanding shall occur no later than June 30, 1997.

§4-5.12 DISPOSITION OF SURPLUS REAL PROPERTY

a. Notwithstanding the provisions of §2.1-512 ~~of the~~, Code of Virginia, the departments, divisions, institutions, or agencies of the Commonwealth, or the Governor, shall sell or lease surplus real property only under the following circumstances:

1. Any emergency declared in accordance with § 44-146.18:2 or § 44-146.28 ~~of the~~, Code of Virginia, or

2. Not less than thirty days after the Governor notifies, in writing, the chairmen of the House Appropriations and Senate Finance Committees regarding the planned conveyance.

b. In either circumstance provided for in paragraph A a. of this section, the cognizant board or governing body of the agency or institution holding title or otherwise controlling the state-owned property shall approve, in writing, the proposed conveyance of the property.