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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 and is identical to SB 1208.
Introduced
Jan 8, 2025
Last Action
Mar 18, 2025
Session
VA 2025
Sponsors
1 primary · 1 co
Acts of Assembly Chapter text (CHAP0034)
Approved by Governor-Chapter 34 (Effective 07/01/25)
Governor's Action Deadline 11:59 p.m., March 24, 2025
Enrolled Bill communicated to Governor on February 18, 2025
Signed by President
Fiscal Impact Statement from Department of Planning and Budget (HB2358)
Bill text as passed House and Senate (HB2358ER)
Signed by Speaker
Enrolled
Passed Senate (39-Y 0-N)
Read third time
Rules suspended
Constitutional reading dispensed (on 2nd reading) (40-Y 0-N)
Passed by for the day
Reported from Finance and Appropriations (13-Y 0-N)
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed (on 1st reading)
Read third time and passed House (88-Y 7-N)
Moved from Uncontested Calendar to Regular Calendar
Read second time and engrossed
Read first time
Reported from Appropriations (22-Y 0-N)
Subcommittee recommends reporting (8-Y 0-N)
Fiscal Impact Statement from Department of Planning and Budget (HB2358)
Assigned Approps sub: Commerce Agriculture & Natural Resources
Referred to Committee on Appropriations
Prefiled and ordered printed; Offered 01-08-2025 25100963D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Acts of Assembly Chapter text (CHAP0034)
Luke E. Torian
Michelle Lopes Maldonado