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2015 SESSION

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SB 1449 Governor's Powering Economic Growth Program; created.

Introduced by: Richard L. Saslaw | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Governor's Powering Economic Growth Program. Establishes the Governor's Powering Economic Growth Program to award incentives in the form of reduced electricity rates to qualified economic development projects.

SUMMARY AS INTRODUCED:

Virginia Energy Economic Development Advisory Board; Governor's Energy Fund; report. Establishes the Governor's Energy Fund (the Fund) to award incentive grants in the form of reduced electricity rates consisting of (i) special rate classes, (ii) temporary rate credits, or (iii) any other methodology that may be authorized by law. The bill also creates the Virginia Energy Economic Development Advisory Board to advise the Governor on the award of energy incentive grants from the Fund.