2006 Session

Budget Amendments - SB30 (Committee Approved)

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Create biosciences seed investment fund

Item 462 #16s

Item 462 #16s

First Year - FY2007 Second Year - FY2008
Central Appropriations
Central Appropriations FY2007 $500,000 FY2008 $0 GF

Page 403, line 40, strike "$58,620,000" and insert "$59,120,000".
Page 408, after line 29, insert:
"T. Out of the appropriation for Economic Development Assistance $500,000 the first year from the general fund shall be provided to the Virginia Biotechnology Research Park Authority to facilitate the creation of a seed investment fund that will significantly expand access to capital for emerging bioscience companies in central Virginia.  The grant amount shall be matched equally by private contributions."

(This amendment creates a seed investment fund for emerging Virginia bioscience companies. This fund will be managed by the Virginia Biotechnology Research Park Authority. The Commonwealth's grant will be matched equally by private contributions.)