VirginiaCurrent and Mature Semiconductor Technology Grant Fund; established.
What it does
Current and Mature Semiconductor Technology Grant Fund. Establishes the Current and Mature Semiconductor Technology Grant Fund to, subject to appropriation, fund 15 annual grant award installments, in an aggregate amount not to exceed $60 million, to a qualified company that engages in the manufacture of semiconductors and that executes a memorandum of understanding with the Commonwealth and, on and after July 1, 2024, but before June 30, 2040, is expected to (i) make a capital investment, defined in the bill, of at least $2,170,130,850 and (ii) create and maintain at least 340 new full-time jobs, in an eligible locality, defined in the bill. The bill also authorizes bonus grants of up to $10 million that a qualified company may earn for certain new full-time job creation and maintenance.
More detail
The bill also repeals the existing Semiconductor Manufacturing Grant Fund and is identical to SB 1208.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Mar 18Acts of Assembly Chapter text (CHAP0034)Latest
- Mar 18Approved by Governor Glenn Youngkin-Chapter 34 (Effective 07/01/25)Became Law
- Feb 18Governor's Action Deadline 11:59 p.m., March 24, 2025To Governor
- Feb 18Enrolled Bill communicated to Governor on February 18, 2025Minor
- Feb 13Signed by PresidentMajor
- Feb 11Fiscal Impact Statement from Department of Planning and Budget (HB2358)
- Feb 10Signed by SpeakerMajor
- Feb 10Bill text as passed House and Senate (HB2358ER)Major
- Feb 10EnrolledMinor
- Feb 7Passed Senate (39-Y 0-N)Passed Senate
- Vote recorded Passed Senate (39-Y 0-N). Result: pass.Upper
- Feb 7Read third timeMinor
- Feb 6Passed by for the day
- Vote recorded Constitutional reading dispensed (on 2nd reading) (40-Y 0-N). Result: pass.Upper
- Feb 6Constitutional reading dispensed (on 2nd reading) (40-Y 0-N)
- Feb 6Rules suspended
- Feb 5Reported from Finance and Appropriations (13-Y 0-N)Minor
- Vote recorded Reported from Finance and Appropriations (13-Y 0-N). Result: pass.Upper
- Jan 31Referred to Committee on Finance and AppropriationsMinor
- Jan 31Constitutional reading dispensed (on 1st reading)
- Jan 30Read third time and passed House (88-Y 7-N)Passed House
- Vote recorded Read third time and passed House (88-Y 7-N). Result: pass.Lower
- Jan 29Read second time and engrossedMinor
- Jan 29Moved from Uncontested Calendar to Regular Calendar
- Jan 28Read first timeMinor
- Jan 24Reported from Appropriations (22-Y 0-N)Minor
- Vote recorded Reported from Appropriations (22-Y 0-N). Result: pass.Lower
- Jan 22Subcommittee recommends reporting (8-Y 0-N)
- Vote recorded Subcommittee recommends reporting (8-Y 0-N). Result: pass.Lower
- Jan 20Fiscal Impact Statement from Department of Planning and Budget (HB2358)
- Jan 18Assigned Approps sub: Commerce Agriculture & Natural ResourcesMinor
- Jan 8Referred to Committee on AppropriationsMinor
- Jan 8Prefiled and ordered printed; Offered 01-08-2025 25100963DIntroduced