H.B. 1769: MEI Project Approval Commission; review procedures.
Virginia, 2023 Regular Session. Signed, March 26, 2023.
Last verified
H.B. 1769 at a glance
Status Signed Signed, .
No official summary is on file yet. The full text is on the legislature's page, linked below.
MEI Project Approval Commission; review procedures. Adds to the incentive packages for economic development, film, and episodic television projects that require MEI Project Approval Commission (the Commission) review and approval any incentive package in which one of the incentives being sought includes a cash payment of more than $3.5 million from any fund prior to any performance metrics being met by the proposed project. The bill clarifies that in calculating whether the value of proposed incentives exceeds $10 million and thus requires review under current law, the value of existing nondiscretionary tax credits, tax incentives, and grants shall not be considered, with the exception of the sales tax exemption for data centers and the motion picture tax credit. In addition, the bill provides that economic development projects that propose to relocate or expand operations in one area of the Commonwealth while closing or reducing operations in another area of the Commonwealth shall be subject to Commission review only if the value of the proposed incentives exceeds $2.5 million. MEI Project Approval Commission; review procedures. Adds to the incentive packages for economic development, film, and episodic television projects that require MEI Project Approval Commission (the Commission) review and approval any incentive package in which one of the incentives being sought includes a cash payment of more than $3.5 million from any fund prior to any performance metrics being met by the proposed project. The bill clarifies that in calculating whether the value of proposed incentives exceeds $10 million and thus requires review under current law, the value of existing nondiscretionary tax credits, tax incentives, and grants shall not be considered, with the exception of the sales tax exemption for data centers and the motion picture tax credit. In addition, the bill provides that economic development projects that propose to relocate or expand operations in one area of the Commonwealth while closing or reducing operations in another area of the Commonwealth shall be subject to Commission review only if the value of the proposed incentives exceeds $2.5 million. The bill also requires state agencies and political subdivisions that have significant involvement in a proposed individual incentive package to verify the job creation and investment data before they are presented to the Commission. Finally, the bill allows the Commission to also review potential economic development projects that are not required to be presented to the Commission that would be financed through entitlements to sales taxes or through personal or corporate income tax incentives or modifications.
Measure Bill.
Sponsors Daniel Marshall (R)
Subjects General Assembly, Study Commissions Committees and Reports, Commissions Boards and Institutions Generally The legislature's own list.
Official page lis.virginia.gov/cgi-bin/legp604.exe?231+sum+HB1769. Found through LegiScan (bill 1650262), whose data is CC BY 4.0; the citation is the legislature's own page.
What happened, and when
- March 26, 2023 Signed
H.B. 1769 was signed. lis.virginia.gov primary source [1] The official action text: Governor: Approved by Governor-Chapter 528 (effective 7/1/23).
- February 24, 2023 Passed second chamber
H.B. 1769 passed the Senate. lis.virginia.gov primary source [1] The official action text: Enrolled.
- February 16, 2023 In committee
H.B. 1769 went to committee in the Senate. lis.virginia.gov primary source [1] The official action text: Reported from Finance and Appropriations (16-Y 0-N).
- January 25, 2023 In committee
H.B. 1769 went to committee in the Senate. lis.virginia.gov primary source [1] The official action text: Referred to Committee on Finance and Appropriations.
- January 23, 2023 Passed first chamber
H.B. 1769 passed the House of Delegates. lis.virginia.gov primary source [1] The official action text: Engrossed by House as amended HB1769E.
- January 18, 2023 In committee
H.B. 1769 went to committee in the House of Delegates. lis.virginia.gov primary source [1] The official action text: Reported from Appropriations with amendment(s) (22-Y 0-N).
- January 10, 2023 In committee
H.B. 1769 went to committee in the House of Delegates. lis.virginia.gov primary source [1] The official action text: Referred to Committee on Appropriations.
- January 10, 2023 Introduced
H.B. 1769 was introduced in the House of Delegates. lis.virginia.gov primary source [1] The official action text: Referred to Committee on Appropriations.
Newest first. A stage is never overwritten; each entry carries the source it rests on. The status at the top is derived from the newest entry. The action text in Researcher mode is the legislature's own wording.
Sources
Bill data from LegiScan, licensed CC BY 4.0. The record chooses the bills, writes each stage in its own words and cites the legislature's own page for every bill. Bills on this record are also found through the legislatures' own records; the citation is always the legislature's own page or the clerk's own file. This bill was found through LegiScan.
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Cite this page
Data Center Record, "H.B. 1769: MEI Project Approval Commission; review procedures.", https://datacenterrecord.org/bills/va-2023-hb-1769. Data: Data Center Record, datacenterrecord.org, CC BY 4.0.
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