2016 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: DeSteph
Effectiveness of EDI Grant Programs (language only)

Item 106 #7s

Item 106 #7s

Commerce and Trade
Economic Development Incentive Payments


Page 84, after line 15, insert:

"P. The Chairmen of the House Appropriations and Senate Finance Committees shall each appoint four members from their respective committees to a joint subcommittee to work in conjunction with the Secretary of Commerce and Trade and the Virginia Economic Development Partnership Authority to review methods for evaluating the effectiveness of economic development incentives and determine an appropriate course of action with respect to incentive grant program management, assessment and evaluation. As part of this review process, the Joint Subcommittee shall examine the reporting requirements set forth in Chapter 817 of the 2014 Acts of Assembly and consider changes to those requirements as needed.".


(This amendment establishes a joint subcommittee to determine an appropriate course of action in the areas of economic development incentives management, assessment and evaluation. This action is consistent with the recommendations contained in the report dated November 16, 2015, entitled Effectiveness of Economic Development Incentive Grant Programs Administered by the Commonwealth of Virginia.)