Virginia Senate Bill 1208

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 8 2025 - 25% progression
Action: 2025-01-20 - Rereferred from Commerce and Labor to Finance and Appropriations to Finance and Appropriations (12-Y 0-N)
Hearing: Jan 22 in House Appropriations Committee Room - 1200
Text: Latest bill text (Introduced) [HTML]

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. The bill also repeals the existing Semiconductor Manufacturing Grant Fund.

Current and Mature Semiconductor Technology Grant Fund; established.

Sen. Louise Lucas [D]

Sen. Jennifer Carroll Foy [D]

Date	Chamber	Action
2025-01-20	Senate	Rereferred from Commerce and Labor to Finance and Appropriations to Finance and Appropriations (12-Y 0-N)
2025-01-20	Senate	Fiscal Impact Statement from Department of Planning and Budget (SB1208)
2025-01-08	Senate	Referred to Committee on Commerce and Labor
2025-01-08	Senate	Prefiled and ordered printed; Offered 01-08-2025 25100964D

Type	Source
Summary	https://lis.virginia.gov/bill-details/20251/SB1208
Text	https://lis.virginia.gov/bill-details/20251/SB1208/text/SB1208
Supplement	https://lis.blob.core.windows.net/files/1023422.PDF