2016 Session

Budget Amendments - HB30 (Conference Report)

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HERI - Process and Funding

Item 255 #1c

Item 255 #1c

First Year - FY2017 Second Year - FY2018
Education: Higher Education
Higher Education Research Initiative FY2017 ($12,000,000) FY2018 ($6,000,000) GF

Page 202, line 13, strike "$20,000,000" and insert "$8,000,000".
Page 202, line 13, strike "$20,000,000" and insert "$14,000,000".

Page 202, strike lines 17 through 54 and insert:

"A.  1. Out of this appropriation, $8,000,000 the first year and $14,000,000 the second year from the general fund is designated for the Virginia Research Investment Fund.  These funds shall be allocated in accordance with provisions established in House Bill 1343 of the 2016 General Assembly and shall be used to (i) promote research and development excellence in the Commonwealth; (ii) foster innovative and collaborative research, development, and commercialization efforts in projects and programs with a high potential for economic development and job creation opportunities; (iii) position the Commonwealth as a national leader in science-based and technology-based research, development, and commercialization; and (iv) to attract and recruit eminent researchers that enhance research superiority at public institutions of higher education.  

2. In addition to the funding in this item, $29,000,000 the first year authorized in Item C-52.10 shall be made available to support the purchase of research equipment or laboratory renovations associated with researcher incentive packages and the translation of research into commercial use subject to the provisions established in House Bill 1343. Any institution of higher education or related research entity pursuing this funding must provide a match of an amount at least equal to the awarded funds.

B.  The appropriation for this item is contingent on the passage of House Bill 1343 of the 2016 Session.  If the bill should fail, the amounts appropriated in this item shall be transferred to Item 475 as part of the Revenue Reserve."

Page 203, strike lines 1 through 12.


(This amendment retains $22.0 million from the general fund over the biennium for the implementation of HB 1343 of the 2016 General Assembly including incentive packages for high performing researchers in relation to the commercialization of research. The amendment also references the process that will be used to allocate these funds as well as the bond proceeds that will be used to fund laboratory renovations and equipment. The Virginia Research Investment Fund and the Virginia Research Investment Committee (V-RIC) are created in House Bill 1343.)