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2019 SESSION
HB 2180 Semiconductor Manufacturing Grant Fund; created.
Introduced by: Nick Rush | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Semiconductor Manufacturing Grant Fund; creation. Creates the Semiconductor Manufacturing Grant Fund for the award of grants to a qualified semiconductor manufacturing company that makes a capital investment of at least $2.98 billion in a qualified locality and creates and maintains at least 1,106 new jobs with an average annual wage of at least $92,000. Such a qualified company would be eligible to receive a grant of $50 million in fiscal year 2020 and a grant of $20 million in fiscal year 2021, subject to total or partial recapture if the qualified company does not meet the performance metrics agreed to in a memorandum of understanding with the Commonwealth. This bill is identical to SB 1370.
SUMMARY AS INTRODUCED:
Semiconductor Manufacturing Grant Fund; creation. Creates the Semiconductor Manufacturing Grant Fund for the award of grants to a qualified semiconductor manufacturing company that makes a capital investment of at least $2.98 billion in a qualified locality and creates and maintains at least 1,106 new jobs with an average annual wage of at least $92,000. Such a qualified company would be eligible to receive a grant of $50 million in fiscal year 2020 and a grant of $20 million in fiscal year 2021, subject to total or partial recapture if the qualified company does not meet the performance metrics agreed to in a memorandum of understanding with the Commonwealth.