2006 Session

Budget Amendments - HB30 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Griffith
Co-Patron(s): Fralin, Ware, O.
Biotech Wet Lab Facilities Program

Item 119 #1h

Item 119 #1h

First Year - FY2007 Second Year - FY2008
Commerce And Trade
Virginia Economic Development Partnership FY2007 $20,000,000 FY2008 $0 GF

Page 91, line 41, strike "$17,877,701" and insert "$37,877,701".
Page  93, after line 52, insert:
"P.1.  Of the amounts provided in this item, $20,000,000 from the general fund in the first year is appropriated to a Virginia Biotechnology Wet-Laboratory Program for the purposes of expanding the biosciences industry in the Commonwealth and making Virginia a more competitive location for growing and attracting life sciences companies that require highly-specialized, wet laboratory capable facilities.  The department shall utilize moneys from the program to provide grants to construct, improve, furnish, equip, maintain, acquire and renovate biotechnology "shell buildings" designed to accommodate and provide wet-lab space or other needed laboratory, research, office or production space to attract biosciences and other related technology companies to the state, as well as accommodating the growth of companies already located in Virginia.  
2. As a precondition for expending any of the funds appropriated to the Program, the Virginia Biotechnology Research Partnership Authority shall develop a program for the use of such funds.  This program proposal shall be submitted for review to the Governor and to the Chairmen of the House Appropriations and Senate Finance Committees prior to the implementation of any proposals for the utilization of the funds appropriated.
3.  Funds under this program may be used for loan guarantees, credit enhancement, or grants, in cooperation with, or on behalf of, applying local government, private development entities, or other qualified applicants under the program guidelines, acting singularly or together as a consortium of development interests.
4.  Decisions regarding the size and scope of the biotechnology "shell buildings", the selection of sites, and the selection of users, tenants or purchasers of such buildings shall be made by a panel consisting of the Secretary of Commerce and Trade, the President of the Center for Innovative Technology, the Executive Director of the Virginia Economic Development Partnership, the Executive Director of the Virginia Biotechnology Association and the President of a research university selected by the Council of University and College Presidents.  This panel shall receive requests and recommendations in accordance with the guidelines that have been promulgated and presented in accordance with paragraph B of this item, to ensure that the Commonwealth receives maximum benefit in furthering the growth of the biotechnology industry in Virginia."

(This amendment provides $20.0 million from the general fund in the first year for the creation of a biotechnology wet-laboratory facilities program to expand the biosciences industry in Virginia. Moneys would be used to construct or renovate biotechnology "shell buildings" designed to attract biosciences and other related technology companies to the State.)