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 HB 2358.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Mar 18Acts of Assembly Chapter text (CHAP0045)Latest
- Mar 18Approved by Governor Glenn Youngkin-Chapter 45 (Effective 07/01/25)Became Law
- Mar 3Governor's Action Deadline 11:59 p.m., March 24, 2025To Governor
- Mar 3Enrolled Bill Communicated to Governor on March 3, 2025Minor
- Feb 20Signed by PresidentMajor
- Feb 18Signed by SpeakerMajor
- Feb 18Fiscal Impact Statement from Department of Planning and Budget (SB1208)
- Feb 18Bill text as passed Senate and House (SB1208ER)Major
- Feb 18EnrolledMinor
- Feb 13Passed House (88-Y 9-N)Passed House
- Vote recorded Passed House (88-Y 9-N). Result: pass.Lower
- Feb 13Read third timeMinor
- Feb 13Moved from Uncontested Calendar to Regular Calendar
- Feb 12Read second timeMinor
- Feb 10Reported from Appropriations (22-Y 0-N)Minor
- Vote recorded Reported from Appropriations (22-Y 0-N). Result: pass.Lower
- Feb 6Assigned Approps sub: Commerce Agriculture & Natural ResourcesMinor
- Feb 4Referred to Committee on AppropriationsMinor
- Feb 4Read first timeMinor
- Feb 4Placed on Calendar
- Jan 30Passed Senate (40-Y 0-N)Passed Senate
- Vote recorded Constitutional reading dispensed (on 3rd reading) (39-Y 1-N). Result: pass.Upper
- Vote recorded Constitutional reading dispensed (on 3rd reading) (39-Y 1-N). Result: pass.Upper
- Jan 30Constitutional reading dispensed (on 3rd reading) (39-Y 1-N)
- Jan 30Rules suspended
- Jan 30Read second time and engrossedMinor
- Jan 29Passed by for the day
- Vote recorded Constitutional reading dispensed (on 1st reading) (38-Y 0-N). Result: pass.Upper
- Jan 29Constitutional reading dispensed (on 1st reading) (38-Y 0-N)
- Jan 29Rules suspended
- Jan 28Reported from Finance and Appropriations (15-Y 0-N)Minor
- Vote recorded Reported from Finance and Appropriations (15-Y 0-N). Result: pass.Upper
- Jan 20Rereferred from Commerce and Labor and Rereferred to Finance and Appropriations to Finance and Appropriations (12-Y 0-N)Minor
- Vote recorded Rereferred from Commerce and Labor and rereferred to Finance and Appropriations (12-Y 0-N). Result: pass.Upper
- Jan 20Fiscal Impact Statement from Department of Planning and Budget (SB1208)
- Jan 8Referred to Committee on Commerce and LaborMinor
- Jan 8Prefiled and ordered printed; Offered 01-08-2025 25100964DIntroduced