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2012 SESSION

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HB 1183 Virginia Port Authority; amends several provisions governing conduct of business.

Introduced by: John A. Cosgrove | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Port Authority.  Amends several provisions relating to the Virginia Port Authority and the conduct of its business. The bill (i) extends until 2017 the international trade facility tax credit, the barge and rail usage tax credit, and the Virginia port volume increase tax credit; (ii) specifies that the members of the Authority have expertise in particular industries; (iii) authorizes the Board to form a Maritime Advisory Council to provide advice and counsel to the Board; and (iv) creates the Port Opportunity Fund for the development and implementation of marketing for the Port and to expand the use of the Virginia Port Authority facilities. The bill also requires the Governor make recommendations to General Assembly regarding the establishment of an economic development zone and incentives concerning the Port. This bill is identical to SB 578.


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