2022 Session

Budget Amendments - HB30 (Committee Approved)

UVA Institute of Biotechnology

Item 487.10 #2h

Item 487.10 #2h

First Year - FY2023 Second Year - FY2024
Central Appropriations
Central Appropriations FY2023 $18,000,000 FY2024 $18,000,000 GF

Page 512, after line 53, insert:

"487.10 UVA Institute of Biotechnology$18,000,000$18,000,000
Fund Sources:  General $18,000,000 $18,000,000 "

Page 512, after line 53, insert:

"A. 1. Out of this appropriation, $18,000,000 each year from the general fund is provided to begin support for incentive packages to attract and recruit 150 high performing research scientists over the next five fiscal years.

2. Out of the amounts authorized in Item 256, the Higher Education Equipment Trust Fund, $7,500,000 each year is allocated to the University of Virginia in support of the recruitment efforts identified in Paragraph A.1.

B. By no later than July 1, 2023, the University of Virginia shall develop, in consultation with the Secretary of Finance, the Secretary of Education, the Director of the Department of Planning and Budget, the President of the Virginia Economic Development Partnership, and the staff directors of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations, or their designees,  a Memorandum of Understanding which will set forth the conditions for continued allocations from this item beginning July 1, 2024."


(This amendment provides funding for the University of Virginia Institute of Biotechnology.)