{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-5104.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-5104.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-5104.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-5104.html"}],"law_id":75562,"edition_id":1,"section_id":75562,"structure_id":14627,"section_number":"2.2-5104","catch_line":"Virginia Investment Partnership Grant Fund","history":"1999, cc. 875, 961, \u00a7 2.1-548.43:6; 2000, c. 571; 2001, c. 844; 2005, c. 431.","full_text":"A\n\nThere is established a special fund in the state treasury to be known as the Virginia Investment Partnership Grant Fund. The Fund shall consist of the Major Eligible Employer Grant subfund, the Economic Development Incentive Grant subfund, and the Investment Performance Grant subfund. Each subfund shall include such moneys as may be appropriated by the General Assembly and designated for the respective subfund, and a “sinking fund” including some proportion of the marginal revenues derived from eligible companies receiving grants under this Act. The Fund shall be used solely for the payment of investment incentive grants to eligible Virginia business entities pursuant to this chapter. The Partnership shall administer the Virginia Investment Partnership Grant Fund.B\n\nThe Partnership shall allocate, from the appropriate subfund, moneys in the following order of priority: (i) first to unpaid grant amounts carried forward from prior years because eligible manufacturers did not receive the full amount of any grant to which they were eligible in a prior year and (ii) then to other approved applicants. If the moneys in the Fund are less than the amount of grants to which approved applicants in any class of priority are eligible, the moneys in the appropriate subfund shall be apportioned pro rata among eligible applicants in such class, based upon the amount of the grant to which an approved applicant is eligible and the amount of money in the subfund available for allocation to such class.C\n\nIf a grant recipient is allocated less than the full amount of a grant to which it is eligible in any year, it shall not be eligible for the deficiency in that year, but the unpaid portion of the grant to which it was eligible shall be carried forward by the Partnership to the following year, during which it shall be in the first class of priority as provided in clause (i) of subsection B.D\n\nThe Partnership shall determine the amount of the grants to be allocated to eligible applicants by June 30 of each year. The Partnership shall then certify to the Comptroller the amount of grant an eligible manufacturer shall receive. Payments shall be made by check issued by the State Treasurer on warrant of the Comptroller.E\n\nAll excess funds remaining in any given year shall be carried forward on the books of the Fund for use in subsequent years.F\n\nActions of the Partnership relating to the allocation and awarding of grants shall be exempt from the provisions of the Administrative Process Act (§ 2.2-4000 et seq.) pursuant to subdivision B 4 of § 2.2-4002.","order_by":null,"text":{"0":{"id":271444,"text":"There is established a special fund in the state treasury to be known as the Virginia Investment Partnership Grant Fund. The Fund shall consist of the Major Eligible Employer Grant subfund, the Economic Development Incentive Grant subfund, and the Investment Performance Grant subfund. Each subfund shall include such moneys as may be appropriated by the General Assembly and designated for the respective subfund, and a “sinking fund” including some proportion of the marginal revenues derived from eligible companies receiving grants under this Act. The Fund shall be used solely for the payment of investment incentive grants to eligible Virginia business entities pursuant to this chapter. The Partnership shall administer the Virginia Investment Partnership Grant Fund.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":271445,"text":"The Partnership shall allocate, from the appropriate subfund, moneys in the following order of priority: (i) first to unpaid grant amounts carried forward from prior years because eligible manufacturers did not receive the full amount of any grant to which they were eligible in a prior year and (ii) then to other approved applicants. If the moneys in the Fund are less than the amount of grants to which approved applicants in any class of priority are eligible, the moneys in the appropriate subfund shall be apportioned pro rata among eligible applicants in such class, based upon the amount of the grant to which an approved applicant is eligible and the amount of money in the subfund available for allocation to such class.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":271446,"text":"If a grant recipient is allocated less than the full amount of a grant to which it is eligible in any year, it shall not be eligible for the deficiency in that year, but the unpaid portion of the grant to which it was eligible shall be carried forward by the Partnership to the following year, during which it shall be in the first class of priority as provided in clause (i) of subsection B.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":271447,"text":"The Partnership shall determine the amount of the grants to be allocated to eligible applicants by June 30 of each year. The Partnership shall then certify to the Comptroller the amount of grant an eligible manufacturer shall receive. Payments shall be made by check issued by the State Treasurer on warrant of the Comptroller.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":271448,"text":"All excess funds remaining in any given year shall be carried forward on the books of the Fund for use in subsequent years.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":271449,"text":"Actions of the Partnership relating to the allocation and awarding of grants shall be exempt from the provisions of the Administrative Process Act (§ 2.2-4000 et seq.) pursuant to subdivision B 4 of § 2.2-4002.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":14627,"edition_id":1,"name":"Virginia Investment Partnership Act","identifier":"51","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:48:58","date_modified":"2026-06-26 03:48:58","permalink":{"id":177751,"object_type":"structure","relational_id":14627,"identifier":"51","token":"2.2\/II\/B\/51","url":"\/2.2\/II\/B\/51\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12751,"edition_id":1,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":1,"parent_id":12750,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176445,"object_type":"structure","relational_id":12751,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12750,"edition_id":1,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176253,"object_type":"structure","relational_id":12750,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56246,"structure_id":14627,"section_number":"2.2-5100","catch_line":"Short title; definitions","url":"\/2.2-5100\/","token":"2.2\/II\/B\/51\/2.2-5100","metadata":false},{"id":69324,"structure_id":14627,"section_number":"2.2-5101","catch_line":"Virginia investment performance grants","url":"\/2.2-5101\/","token":"2.2\/II\/B\/51\/2.2-5101","metadata":false},{"id":56174,"structure_id":14627,"section_number":"2.2-5102","catch_line":"Performance grant for major eligible manufacturers","url":"\/2.2-5102\/","token":"2.2\/II\/B\/51\/2.2-5102","metadata":false},{"id":68478,"structure_id":14627,"section_number":"2.2-5102.1","catch_line":"Virginia economic development incentive grants","url":"\/2.2-5102.1\/","token":"2.2\/II\/B\/51\/2.2-5102.1","metadata":false},{"id":67038,"structure_id":14627,"section_number":"2.2-5103","catch_line":"Requirements for grants generally","url":"\/2.2-5103\/","token":"2.2\/II\/B\/51\/2.2-5103","metadata":false},{"id":75562,"structure_id":14627,"section_number":"2.2-5104","catch_line":"Virginia Investment Partnership Grant Fund","url":"\/2.2-5104\/","token":"2.2\/II\/B\/51\/2.2-5104","metadata":false}],"previous_section":{"id":67038,"structure_id":14627,"section_number":"2.2-5103","catch_line":"Requirements for grants generally","url":"\/2.2-5103\/","token":"2.2\/II\/B\/51\/2.2-5103","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-5104\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapters 875<\/a> and 961<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2000, chapter 571<\/a>; in 2001, chapter 844<\/a>; in 2005, chapter 431<\/a>.<\/p>","references":[{"id":56246,"section_number":"2.2-5100","catch_line":"Short title; definitions","order_by":null,"url":"\/2.2-5100\/"}],"refers_to":[{"id":86911,"section_number":"2.2-4000","catch_line":"Short title; purpose","order_by":null,"url":"\/2.2-4000\/"},{"id":69625,"section_number":"2.2-4002","catch_line":"Exemptions from chapter generally","order_by":null,"url":"\/2.2-4002\/"}],"permalink":{"id":177773,"object_type":"law","relational_id":75562,"identifier":"2.2-5104","token":"2.2\/II\/B\/51\/2.2-5104","url":"\/2.2-5104\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-5104\/","token":"2.2\/II\/B\/51\/2.2-5104","dublin_core":{"Title":"Virginia Investment Partnership Grant Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-5104","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> There is established a special fund in the state treasury to be known as the Virginia Investment Partnership Grant Fund. The Fund shall consist of the Major Eligible Employer Grant subfund, the Economic Development Incentive Grant subfund, and the Investment Performance Grant subfund. Each subfund shall include such moneys as may be appropriated by the General Assembly and designated for the respective subfund, and a “sinking fund<\/span>” including some proportion of the marginal revenues derived from eligible companies receiving grants under this Act. The Fund shall be used solely for the payment of investment incentive grants to eligible Virginia business entities pursuant to this chapter. The Partnership shall administer the Virginia Investment Partnership Grant Fund. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Partnership shall allocate, from the appropriate subfund, moneys in the following order<\/span> of priority: (i) first to unpaid grant amounts carried forward from prior years because eligible manufacturers did not receive the full amount of any grant to which they were eligible in a prior year and (ii) then to other approved applicants. If the moneys in the Fund are less than the amount of grants to which approved applicants in any class of priority are eligible, the moneys in the appropriate subfund shall be apportioned pro rata among eligible applicants in such class, based upon the amount of the grant to which an approved applicant is eligible and the amount of money in the subfund available for allocation to such class. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If a grant recipient is allocated less than the full amount of a grant to which it is eligible in any year, it shall not be eligible for the deficiency in that year, but the unpaid portion of the grant to which it was eligible shall be carried forward by the Partnership to the following year, during which it shall be in the first class of priority as provided in clause (i) of subsection B. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Partnership shall determine the amount of the grants to be allocated to eligible applicants by June 30 of each year. The Partnership shall then certify to the Comptroller the amount of grant an eligible manufacturer shall receive. Payments shall be made by check issued by the State Treasurer on warrant of the Comptroller. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> All excess funds remaining in any given year shall be carried forward on the books of the Fund for use in subsequent years. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Actions of the Partnership relating to the allocation and awarding of grants shall be exempt from the provisions of the Administrative Process Act (§ 2.2-4000<\/a> et seq.) pursuant to subdivision B 4 of § 2.2-4002<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIRGINIA INVESTMENT PARTNERSHIP GRANT FUND (\u00a7 2.2-5104)\n\nA. There is established a special fund in the state treasury to be known as the\nVirginia Investment Partnership Grant Fund. The Fund shall consist of the Major\nEligible Employer Grant subfund, the Economic Development Incentive Grant\nsubfund, and the Investment Performance Grant subfund. Each subfund shall\ninclude such moneys as may be appropriated by the General Assembly and\ndesignated for the respective subfund, and a “sinking fund”\nincluding some proportion of the marginal revenues derived from eligible\ncompanies receiving grants under this Act. The Fund shall be used solely for the\npayment of investment incentive grants to eligible Virginia business entities\npursuant to this chapter. The Partnership shall administer the Virginia\nInvestment Partnership Grant Fund.\n\nB. The Partnership shall allocate, from the appropriate subfund, moneys in the\nfollowing order of priority: (i) first to unpaid grant amounts carried forward\nfrom prior years because eligible manufacturers did not receive the full amount\nof any grant to which they were eligible in a prior year and (ii) then to other\napproved applicants. If the moneys in the Fund are less than the amount of\ngrants to which approved applicants in any class of priority are eligible, the\nmoneys in the appropriate subfund shall be apportioned pro rata among eligible\napplicants in such class, based upon the amount of the grant to which an\napproved applicant is eligible and the amount of money in the subfund available\nfor allocation to such class.\n\nC. If a grant recipient is allocated less than the full amount of a grant to\nwhich it is eligible in any year, it shall not be eligible for the deficiency in\nthat year, but the unpaid portion of the grant to which it was eligible shall be\ncarried forward by the Partnership to the following year, during which it shall\nbe in the first class of priority as provided in clause (i) of subsection B.\n\nD. The Partnership shall determine the amount of the grants to be allocated to\neligible applicants by June 30 of each year. The Partnership shall then certify\nto the Comptroller the amount of grant an eligible manufacturer shall receive.\nPayments shall be made by check issued by the State Treasurer on warrant of the\nComptroller.\n\nE. All excess funds remaining in any given year shall be carried forward on the\nbooks of the Fund for use in subsequent years.\n\nF. Actions of the Partnership relating to the allocation and awarding of grants\nshall be exempt from the provisions of the Administrative Process Act (§\n2.2-4000 et seq.) pursuant to subdivision B 4 of § 2.2-4002.\n\nHISTORY: 1999, cc. 875, 961, \u00a7 2.1-548.43:6; 2000, c. 571; 2001, c. 844; 2005,\nc. 431.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}