VirginiaEconomic development incentives; wage requirements.
What it does
Economic development incentives; wage requirements. Requires companies to pay an average wage for the jobs eligible for assistance under the component programs of the Virginia Jobs Investment Program that is no less than the prevailing average wage, defined in the bill, or, in the case of an economically distressed locality, defined in the bill, no less than 85 percent of the prevailing average wage. Under current law, to be eligible for the component programs, companies must pay a minimum entry-level wage rate per hour of at least 1.2 times the federal minimum wage or the Virginia minimum wage, whichever is higher, and in areas that have an unemployment rate of 1.5 times the statewide average unemployment rate, the wage rate minimum may be waived.
More detail
The bill also authorizes the payment of Virginia Investment Performance Grants if the average wage paid by the eligible manufacturer or research and development service, excluding fringe benefits, is no less than 85 percent of the prevailing average wage in localities with either (i) an annual unemployment rate for the most recent calendar year for which such data is available that is greater than the final statewide average unemployment rate for that calendar year or (ii) a poverty rate for the most recent calendar year for which such data is available that exceeds the statewide average poverty rate for that year. Under current law, such authorization is limited to those localities meeting both the unemployment rate and poverty rate thresholds.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 5Read third time and defeated by House (33-Y 65-N 0-A)Latest
- Vote recorded H VOTE:. Result: fail.Lower
- Feb 4Read second time and engrossedMinor
- Feb 4Moved from Uncontested Calendar to Regular Calendar
- Feb 3Read first timeMinor
- Jan 30Reported from Appropriations (21-Y 0-N)Minor
- Vote recorded Reported from Appropriations. Result: pass.Lower
- Jan 28Subcommittee recommends reporting (5-Y 0-N)
- Vote recorded Subcommittee recommends reporting. Result: pass.Lower
- Jan 22Assigned HAPP sub: Commerce Agriculture & Natural ResourcesMinor
- Jan 21Fiscal Impact Statement from Department of Planning and Budget (HB1138)
- Jan 14Referred to Committee on AppropriationsMinor
- Jan 14Prefiled and ordered printed; Offered 01-14-2026 26102879DIntroduced
- Feb 5Read third time and defeated by House (33-Y 65-N 0-A)Latest