2023 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Fariss
Establish the Platform Technology Program

Item 127 #3h

Item 127 #3h

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Virginia Innovation Partnership Authority FY2023 $2,500,000 FY2024 $2,500,000 GF

Page 130, line 7, strike "$47,786,623" and insert "$50,286,623".
Page 130, line 7, strike "$42,395,623" and insert "$44,895,623".

Page 131, line 51, strike "$5,000,000" and "$5,000,000" and insert:

"$7,500,000" and "$7,500,000".

Page 131, line 51, after "G." insert "1."

Page 131, after line 51, insert:

"2. Of the amounts provided in G.1. for the Commonwealth Commercialization Fund, $2,500,000 the first year and $2,500,000 the second year shall be made available to establish the Platform Technology Program (PTP) to award grants in amounts ranging from $500,000 to $1,000,000 to support pilot or testing programs for Virginia-based technology companies with non-software, multi-use industrial technologies that directly benefit existing Virginia industries deemed critical to the Commonwealth's infrastructure and regional economic growth, namely energy, mining, maritime, transportation, waste treatment, water quality, and other such sectors, and have already been successfully vetted by Virginia Innovation Partnership Corporation (VIPC).

3. PTP grant awards in G.2. will require the participation of at least two VIPC approved ESOs, at least one major industrial partner located in the Commonwealth and must support PTP projects that benefit at least two Virginia Initiative for Growth and Opportunity (GO Virginia) regions."


(This amendment provides an additional $5.0 million over the biennium for the Commonwealth Commercialization Fund to support multi-use (“platform”) technology testing for critical industries and infrastructure growth in Virginia.)