SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2023 SESSION

  • | print version

HB 1842 Virginia Business Ready Sites Acquisition Fund and Program; created.

Introduced by: Barry D. Knight | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Economic development; Virginia Business Ready Sites Acquisition Fund and Program. Creates the Virginia Business Ready Sites Acquisition Program for the purposes of (i) acquiring sites for the purpose of creating and maintaining a portfolio of project-ready sites to promote economic development in the Commonwealth, (ii) developing such sites to increase their marketability, and (iii) entering into development agreements with private employers for large-scale economic development projects. The Virginia Economic Development Partnership Authority shall administer the Program, in consultation with the Department of General Services.

The bill requires Program activities to be reviewed by the MEI Project Approval Commission (the Commission), who shall review proposals for site acquisitions, site development activities, and development agreements with private employers and determine whether the proposals are consistent with the objective of the Program. If the Commission issues a negative finding, it shall communicate such finding to the Governor and to the General Assembly, and the Authority shall not implement the proposal unless the proposal, either in its original or revised form, is authorized by the General Assembly at its next session and enacted into law.


FULL TEXT

AMENDMENTS

HISTORY