2013 Session

Budget Amendments - HB1500 (Committee Approved)

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Site Planning Fund Requirements (language only)

Item 105 #1h

Item 105 #1h

Commerce And Trade
Economic Development Incentive Payments

Page 84, line 47, after "Virginia" insert:
"or in the performance of site and site development work in communities that are not tobacco-dependent communities eligible for assistance from the Tobacco Indemnification and Community Revitalization Commission, to accommodate a project anticipated to have a capital investment in real and tangible personal property exceeding $50,000,000, create more than 100 full-time jobs, and likely have a substantial direct and indirect economic impact on surrounding communities".

(This amendment will allow the Virginia Economic Development Partnership to make grants from the existing site development planning fund created pursuant to § 2.2-2260, or, for smaller development projects in non-tobacco dependent communities, meet lower investment and job creation thresholds if such projects are critical to the economic health of such jurisdictions.)