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1996 SESSION

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SB 253 Semiconductor Memory or Logic Wafer Man. Perf. Grant Program.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY:

Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Program. Establishes the Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Program to encourage the manufacturing of semiconductor wafers in the Commonwealth. The program is limited by population brackets to manufacturers located in the City of Manassas. The grants will be awarded at the rate of $100 per memory wafer and $250 per logic wafer manufactured in that city and sold. The amount of grants that can be awarded is capped based on the manufacturer's cumulative investment. The maximum amount of grants that can awarded under the program shall not exceed $7,680,000 in any year and $38.4 million cumulatively. Payment of grants will be made by a specific legislative appropriation, subject to a memorandum of agreement between the manufacturer and the Commonwealth.


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