Top Legislation - View All
Latest Action: 02/12/2008 - Left in Appropriations Bill TextNanotechnology subordinated debt and equityinvestment tax credit. Provides a tax credit, beginning January1, 2009, in an amount equal to 50% of the taxpayer's cash investmentsin the form of equity or subordinated debt in certain qualified nanotechnologybusinesses. A qualified business must be domiciled in the Commonwealth,be engaged in business primarily or do substantially all of its productionin the Commonwealth, and primarily engaged in the research, development,or commercialization of nanotechnology with applications in (i) energy,conservation, and the environment, (ii) microelectronics, or (iii)lifespan biology and medicine. The credit shall not exceed the lesserof the tax imposed on the taxpayer for the taxable year in which thecredit is sought or $50,000. Any unused credit may be carried overfor 15 years. Total credits available for any calendar year shallbe $15 million. If such investments are not held for at least threeyears, the taxpayer must forfeit used and unused credits, plus [...] show full description
Latest Action: 02/22/2008 - Signed by President Bill Text
Summary as passed: Commonwealth Technology Research Fund (CTRF); sensorsciences. Adds sensor sciences to the eligible research programs in theCTRF. This bill is identical to SB 319.
Latest Action: 02/12/2008 - Left in Science and Technology Bill Text
Innovative Technology Authority; repealed.Repeals the Innovative Technology Authority and the Center for InnovativeTechnology. The bill moves the Advanced Communications AssistanceFund, the Commonwealth Technology Research Fund, and the BiotechnologyCommercialization Loan Fund under the supervision of the VirginiaEconomic Development Partnership.
Latest Action: 02/12/2008 - Left in Science and Technology Bill Text
Center for Innovative Technology (CIT); duties. RequiresCIT to perform a biennial survey of the Commonwealth's technology industry toassess the current and projected demand for science, math, andtechnology-related graduates and identify the types of graduates most desiredby the technology industry. The bill requires CIT to report its findings to theJoint Commission on Technology and Science and the Commonwealth's institutionsof higher education.
Latest Action: 02/22/2008 - Signed by President Bill Text
Summary as passed: Innovative Technology Authority; powers of board of directors.Authorizes the Board of the Authority to designate the President and staff ofthe Center for Innovative Technology to carry out the day-to-day operations andactivities of the Authority and to perform such other duties as may be directedby the Board. The bill is identical to SB 235.
Latest Action: 02/28/2008 - Signed by President Bill Text
Innovative Technology Authority; board of directors. Removesthe Secretaries of Education and Commerce and Trade, as well the Director ofthe State Council of Higher Education, from the board of directors of theAuthority. The bill also makes a technical correction. The bill is identical toSB 236.
Latest Action: 02/12/2008 - Left in Appropriations Bill Text
Virginia Nanotechnology Authority; established. Establishesthe Virginia Nanotechnology Authority to promote development of nanotechnologyin Virginia. The Authority will be responsible for administering a fund to beused to provide industry and institutions of higher education with discoverygrants, collaboration grants, and prototype grants. The Authority will begoverned by a board of directors and managed by a president at the direction ofthe Board. The president is responsible for creating a virtual VirginiaNanotechnology Users Network to facilitate research and development ofnanotechnology at the Commonwealth's institutions of higher education.
Latest Action: 02/12/2008 - Left in General Laws Bill Text
Technology, Nanotechnology and Biotechnology InvestmentFund created. Creates the Technology, Nanotechnology and BiotechnologyInvestment Fund to attract technology or biotechnology companies to, or assistthose companies located in, the Commonwealth. Moneys in the Fund shall only beapplied to qualified research expenses and basic research payments (as definedby § 41 of the Internal Revenue Code) for research conducted in theCommonwealth. Qualified research expenses are defined as in-house expenses orcontract research expenses, paid by a technology or biotechnology company.Basic research payments are defined as payments made to companies and nonprofitresearch institutions and organizations located in the Commonwealth forresearch in technology and biotechnology. No grant to a company from the Fund isto exceed $500,000 per year. The Innovative Technology Authority shalladminister this fund.
Latest Action: 03/03/2008 - Signed by President Bill Text
Office of Telework Promotion and Broadband Assistance;codified; sunset. Codifies Executive Order 35 (2006) creating the Officeof Telework Promotion and Broadband Assistance under the Secretary ofTechnology. The goals of the Office are to encourage telework as afamily-friendly, business-friendly public policy that promotes workplaceefficiency and reduces strain on transportation infrastructure. In conjunctionwith efforts to promote telework, the Office shall work with public and privateentities to develop widespread access to broadband services. The provisions ofthis act expire on July 1, 2018.
Latest Action: 02/04/2008 - Incorporated by Finance by voice vote Bill Text
Virginia Biotechnology Investment Tax Credit. Createsa research and development tax credit, not to exceed 50 percent of the taxliability due and not to exceed $500,000, for biotechnology companies inVirginia and permits the credit to be carried over for up to 10 years, fortaxable years beginning on and after January 1, 2008. This tax credit, not toexceed 15 percent of the qualified investment, can be claimed for each of thefive tax years beginning on and after January 1, 2008. In no event will morethan $5 million in either of the credits be allowed annually. This bill wasincorporated into HB 125.
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Latest Legislation - View All
Latest Action: 03/12/2008 - Bill text as passed House and Senate Bill TextSummary as passed: Study; Development and enhancement of the biosciences andbiotechnology. Creates a joint subcommittee to study and advance thedevelopment and enhancement of the biosciences and biotechnology in theCommonwealth.In conducting its study, the joint subcommittee shall, amongother things, (i) review and implement appropriate and efficaciousrecommendations of state and national research investigations in thedisciplines of bioscience and biotechnology, including the Governor’sCommission on Biotechnology; (ii) examine, continue, and enlarge the work begunby the Governor’s Commission on Biotechnology, including, but not limited to,determining how Virginia’s research universities, federal and statelaboratories, biotechnology incubators, research parks, private industry, andother major resources can be leveraged to help make Virginia a more attractivelocation for the development and enhancement of the biosciences andbiotechnology industry; (iii) determine how these resources may increase [...] show full description
Latest Action: 02/12/2008 - Left in General Laws Bill Text
Technology, Nanotechnology and Biotechnology InvestmentFund created. Creates the Technology, Nanotechnology and BiotechnologyInvestment Fund to attract technology or biotechnology companies to, or assistthose companies located in, the Commonwealth. Moneys in the Fund shall only beapplied to qualified research expenses and basic research payments (as definedby § 41 of the Internal Revenue Code) for research conducted in theCommonwealth. Qualified research expenses are defined as in-house expenses orcontract research expenses, paid by a technology or biotechnology company.Basic research payments are defined as payments made to companies and nonprofitresearch institutions and organizations located in the Commonwealth forresearch in technology and biotechnology. No grant to a company from the Fund isto exceed $500,000 per year. The Innovative Technology Authority shalladminister this fund.
Latest Action: 02/12/2008 - Left in Appropriations Bill TextNanotechnology subordinated debt and equityinvestment tax credit. Provides a tax credit, beginning January1, 2009, in an amount equal to 50% of the taxpayer's cash investmentsin the form of equity or subordinated debt in certain qualified nanotechnologybusinesses. A qualified business must be domiciled in the Commonwealth,be engaged in business primarily or do substantially all of its productionin the Commonwealth, and primarily engaged in the research, development,or commercialization of nanotechnology with applications in (i) energy,conservation, and the environment, (ii) microelectronics, or (iii)lifespan biology and medicine. The credit shall not exceed the lesserof the tax imposed on the taxpayer for the taxable year in which thecredit is sought or $50,000. Any unused credit may be carried overfor 15 years. Total credits available for any calendar year shallbe $15 million. If such investments are not held for at least threeyears, the taxpayer must forfeit used and unused credits, plus [...] show full description
Latest Action: 02/04/2008 - Incorporated by Finance by voice vote Bill Text
Virginia Biotechnology Investment Tax Credit. Createsa research and development tax credit, not to exceed 50 percent of the taxliability due and not to exceed $500,000, for biotechnology companies inVirginia and permits the credit to be carried over for up to 10 years, fortaxable years beginning on and after January 1, 2008. This tax credit, not toexceed 15 percent of the qualified investment, can be claimed for each of thefive tax years beginning on and after January 1, 2008. In no event will morethan $5 million in either of the credits be allowed annually. This bill wasincorporated into HB 125.
Latest Action: 03/03/2008 - Left in Rules Bill Text
Virginia Commission on Bioscience and Biotechnology.Establishes the Virginia Commission on Bioscience and Biotechnology within thelegislative branch of state government for the purpose of studying andadvancing the development and enhancement of the biosciences and biotechnologyin the Commonwealth, and reviewing and implementing appropriate and efficaciousrecommendations of recent state and national research investigations in thesedisciplines, including the Governor’s Commission on Biotechnology. TheCommission is also charged, among other things, to review, continue, and expandthe work of the Governor’s Commission on Biotechnology, and to develop astrategic plan that will foster bioscience and biotechnology research in theCommonwealth and establish Virginia as a national and global leader in thefield.
Latest Action: 02/12/2008 - Left in Rules Bill Text
Virginia Commission on Bioscience and Biotechnology.Establishes the Virginia Commission on Bioscience and Biotechnologywithin the legislative branch of state government for the purposeof studying and advancing the development and enhancement of the biosciencesand biotechnology in the Commonwealth, and reviewing and implementingappropriate and efficacious recommendations of recent state and nationalresearch investigations in these disciplines, including the Governor%92sCommission on Biotechnology. The Commission is also charged, amongother things, to review, continue, and expand the work of the Governor%92sCommission on Biotechnology, and to develop a strategic plan thatwill foster bioscience and biotechnology research in the Commonwealthand establish Virginia as a national and global leader in the field.
Latest Action: 02/05/2008 - Incorporated by Rules by voice vote Bill Text
Continuing study; shortage of science and engineering graduates;report. Continues the joint subcommittee to study science and technologyeducation in business, law, and policy graduate programs in state institutionsof higher education established by House Joint Resolution 611 (2007) as theJoint Subcommittee to Study the Shortage of Science and Engineering Graduatesin the Commonwealth. This resolution was incorporated into HJR 90 (Cosgrove).
Latest Action: 02/12/2008 - Left in Rules Bill Text
Encouraging the school divisions of the Commonwealth to considerforming planning committees to establish academic year Governor's Schools inmath, science, and technology. Encourages the school divisions of theCommonwealth to consider forming planning committees to establish academic yearGovernor's Schools in math, science, and technology.
Latest Action: 02/12/2008 - Left in Rules Bill Text
Study; JCOTS to study open education resources; report.Directs the Joint Commission on Technology and Science to study opportunitiesto implement open education resources in the Commonwealth's K-12 publicschools. In conducting its study, the Joint Commission on Technology andScience shall (i) evaluate opportunities to incentivise local school divisionsto use open education resources, creative commons materials, and public domaintexts; (ii) identify policies and legislation that would facilitate the use andsharing of educational materials developed by teachers in local school divisionsacross the Commonwealth; (iii) identify information technology barriers togreater implementation of open education resources and computer-based learning;and (iv) consider such other related issues as the joint commission deemsappropriate.
Latest Action: 03/06/2008 - Signed by President Bill Text
Summary as passed Senate: Freedom of Information Act; records and meetings of InnovativeTechnology Authority. Exempts from public disclosure certain proprietaryrecords submitted to the Innovative Technology Authority as part of a grantapplication. The bill also allows meetings of the Innovative TechnologyAuthority to be closed when the exempt records are being discussed. This billis identical to HB 1458.
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