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2005 SESSION

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HB 2732 Investment Partnership Act.

Introduced by: John M. O'Bannon, III | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Investment Partnership Act.  Authorizes the Virginia Economic Development Partnership authority to issue grants under certain circumstances and distinguishes between Virginia companies that are located in large metropolitan areas and those located in other areas of the state by establishing different criteria for eligibility in terms of job creation and capital investment. The bill makes certain businesses engaged in conducting research and experimental development that supports manufacturing in the physical, engineering, and life sciences eligible for Virginia Investment Performance Grants.  The bill also caps investment performance grants at $1.5 million for eligible projects.


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