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2004 SESSION

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045459108
HOUSE BILL NO. 355 Offered January 14, 2004 Prefiled January 12, 2004 A BILL to amend and reenact § 2.2-2235 of the Code of Virginia, relating to the Virginia Economic Development Partnership; board of directors; membership. ---------- Patron-- Bryant ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That § 2.2-2235 of the Code of Virginia is amended and reenacted as follows:

§ 2.2-2235. Board of directors; members and officers; Executive Director.

The Authority shall be governed by board of directors consisting of the Secretary of Commerce and Trade, the Secretary of Finance, and thirteen 18 members, one from each congressional district in the Commonwealth and two seven citizens at large, appointed by the Governor, subject to confirmation by the General Assembly. Four of the thirteen directors initially appointed by the Governor shall be appointed for terms of two and one-half years, four for terms of four and one-half years, and five for terms of six and one-half years, from the effective date of their appointment; and thereafter the The terms of members of the Board shall be six years. No member appointed by the Governor shall be eligible to serve more than two terms; however, after the expiration of the term of a member appointed to serve three years or less, two additional terms may be served if appointed thereto. Any appointment to fill a vacancy shall be for the unexpired term. A person appointed by the Governor to fill a vacancy may be appointed to serve two additional terms. Members of the Board shall receive their expenses and shall be compensated at the rate provided in § 2.2-2104 for each day spent on the business of the Board.

The Board shall elect from its membership a chairman and a vice-chairman, and shall also elect a secretary and a treasurer, who need not be members of the Board, and may also elect other subordinate officers, who need not be members of the Board. The Board may also form committees and advisory councils, which may include representatives who are not members of the Board, to undertake more extensive study and discussion of the issues before the Board.

A majority of the Board shall constitute a quorum for the transaction of the Authority's business, and no vacancy in the membership shall impair the right of a quorum to exercise the rights and perform all duties of the Authority.

The Board shall appoint the chief executive officer of the Authority, who shall not be a member of the Board, who shall be known as the Executive Director and who shall serve at the pleasure of the Board and carry out such of the powers and duties conferred upon him by the Board.

2. That the initial terms of the five citizen-at-large members appointed pursuant to the first enactment shall be as follows: one member for a term of two years, two members for terms of four years, and two members for terms of five years. Thereafter, the terms shall be for six years.