{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-5106.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-5106.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-5106.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-5106.html"}],"law_id":83564,"edition_id":1,"section_id":83564,"structure_id":16145,"section_number":"2.2-5106","catch_line":"(Expires July 1, 2026) Virginia Collaborative Economic Development Performance Grants","history":"2016, cc. 776, 777.","full_text":"A\n\nSubject to the appropriation by the General Assembly of sufficient moneys to the Virginia Collaborative Economic Development Performance Grant Fund, participating localities may be eligible for grants as provided in this section, subject to the conditions set forth in this section and in the guidelines developed pursuant to subsection E. In order to be eligible to apply for a grant, the participating localities shall have contributed to a project or effort described in a collaborative economic development plan an amount as determined pursuant to subsection C, and the participating localities shall demonstrate that the projects or efforts undertaken pursuant to the collaborative economic development plan induced or resulted in the location or expansion of a certified company in the participating localities.B\n\nGrants shall be paid to the participating localities in the year following certification by the Partnership of a certified company. Grants may be paid annually for up to six years so long as the certified company substantially maintains the new jobs and capital investment, and the participating localities continue to implement any relevant provisions of the collaborative economic development plan.C\n\n1. After taking into consideration other state and local financial commitments made to the certified company, the annual amount of a grant from the Fund shall be not more than an amount equal to 45 percent of the total annual amount of personal income tax withheld for payment to the Virginia Department of Taxation from employees holding new jobs at the applicable certified company. By March 31 of each year, the Partnership and the Virginia Department of Taxation shall determine whether a certified company has met or substantially maintained the new job and capital investment requirements and shall compute, based on the amount of personal income tax withheld from employees holding new jobs, the moneys available to be disbursed as performance grants to the participating localities. If an application for a grant is approved pursuant to subsection D, the aggregate amount of grants awarded for that application over a six-year period shall not exceed 50 percent of the total investment or contributions of the participating localities to the economic development project or effort. Approved grants shall be disbursed annually to or for the benefit of the participating localities in accordance with the terms of the collaborative economic development plan. The aggregate amount of grants payable pursuant to this chapter shall not exceed $20 million in any fiscal year. The Board may prorate the grants payable in a fiscal year if the amount of grants applied for and awarded exceeds $20 million.2\n\nNotwithstanding the provisions of subdivision 1, if the Board makes a written finding of significant fiscal distress in or extraordinary economic opportunity for the participating localities, the Board may award an aggregate amount of grants for an application approved pursuant to subsection D that is up to 100 percent of the total investment or contributions of the participating localities.D\n\nThe Partnership shall forward to the Board the economic development project or effort for which it approved a collaborative economic development plan and certified a company. The Board shall review such economic development project or effort, following the criteria included in the guidelines developed pursuant to subsection E, and vote whether to award a grant pursuant to this chapter. The Board shall determine the annual amount and the aggregate amount of the grant to be awarded for each approved economic development project or effort, subject to the provisions of subsection C.E\n\nThe Board shall develop guidelines implementing the provisions of this chapter. No grant shall be awarded until the Board provides copies of such guidelines for review to the Governor and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. The preparation of the guidelines shall be exempt from the requirements of the Administrative Process Act (§ 2.2-4000 et seq.).F\n\nThe Fund shall be audited annually by the Auditor of Public Accounts or his legally authorized representatives. Copies of the annual audit shall be distributed to the Governor and to the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations.","order_by":null,"text":{"0":{"id":299471,"text":"Subject to the appropriation by the General Assembly of sufficient moneys to the Virginia Collaborative Economic Development Performance Grant Fund, participating localities may be eligible for grants as provided in this section, subject to the conditions set forth in this section and in the guidelines developed pursuant to subsection E. In order to be eligible to apply for a grant, the participating localities shall have contributed to a project or effort described in a collaborative economic development plan an amount as determined pursuant to subsection C, and the participating localities shall demonstrate that the projects or efforts undertaken pursuant to the collaborative economic development plan induced or resulted in the location or expansion of a certified company in the participating localities.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":299472,"text":"Grants shall be paid to the participating localities in the year following certification by the Partnership of a certified company. Grants may be paid annually for up to six years so long as the certified company substantially maintains the new jobs and capital investment, and the participating localities continue to implement any relevant provisions of the collaborative economic development plan.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":299473,"text":"1. After taking into consideration other state and local financial commitments made to the certified company, the annual amount of a grant from the Fund shall be not more than an amount equal to 45 percent of the total annual amount of personal income tax withheld for payment to the Virginia Department of Taxation from employees holding new jobs at the applicable certified company. By March 31 of each year, the Partnership and the Virginia Department of Taxation shall determine whether a certified company has met or substantially maintained the new job and capital investment requirements and shall compute, based on the amount of personal income tax withheld from employees holding new jobs, the moneys available to be disbursed as performance grants to the participating localities. If an application for a grant is approved pursuant to subsection D, the aggregate amount of grants awarded for that application over a six-year period shall not exceed 50 percent of the total investment or contributions of the participating localities to the economic development project or effort. Approved grants shall be disbursed annually to or for the benefit of the participating localities in accordance with the terms of the collaborative economic development plan. The aggregate amount of grants payable pursuant to this chapter shall not exceed $20 million in any fiscal year. The Board may prorate the grants payable in a fiscal year if the amount of grants applied for and awarded exceeds $20 million.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C2"},"3":{"id":299474,"text":"Notwithstanding the provisions of subdivision 1, if the Board makes a written finding of significant fiscal distress in or extraordinary economic opportunity for the participating localities, the Board may award an aggregate amount of grants for an application approved pursuant to subsection D that is up to 100 percent of the total investment or contributions of the participating localities.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C","next_prefix":"D"},"4":{"id":299475,"text":"The Partnership shall forward to the Board the economic development project or effort for which it approved a collaborative economic development plan and certified a company. The Board shall review such economic development project or effort, following the criteria included in the guidelines developed pursuant to subsection E, and vote whether to award a grant pursuant to this chapter. The Board shall determine the annual amount and the aggregate amount of the grant to be awarded for each approved economic development project or effort, subject to the provisions of subsection C.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C2","next_prefix":"E"},"5":{"id":299476,"text":"The Board shall develop guidelines implementing the provisions of this chapter. No grant shall be awarded until the Board provides copies of such guidelines for review to the Governor and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. The preparation of the guidelines shall be exempt from the requirements of the Administrative Process Act (§ 2.2-4000 et seq.).","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"6":{"id":299477,"text":"The Fund shall be audited annually by the Auditor of Public Accounts or his legally authorized representatives. Copies of the annual audit shall be distributed to the Governor and to the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":16145,"edition_id":1,"name":"Virginia Collaborative Economic Development Act","identifier":"51.1","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 04:07:28","date_modified":"2026-06-26 04:07:28","permalink":{"id":177777,"object_type":"structure","relational_id":16145,"identifier":"51.1","token":"2.2\/II\/B\/51.1","url":"\/2.2\/II\/B\/51.1\/","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":72587,"structure_id":16145,"section_number":"2.2-5105","catch_line":"(Expires July 1, 2026) Definitions","url":"\/2.2-5105\/","token":"2.2\/II\/B\/51.1\/2.2-5105","metadata":false},{"id":83564,"structure_id":16145,"section_number":"2.2-5106","catch_line":"(Expires July 1, 2026) Virginia Collaborative Economic Development Performance Grants","url":"\/2.2-5106\/","token":"2.2\/II\/B\/51.1\/2.2-5106","metadata":false},{"id":84730,"structure_id":16145,"section_number":"2.2-5107","catch_line":"(Expires July 1, 2026) Grant payments","url":"\/2.2-5107\/","token":"2.2\/II\/B\/51.1\/2.2-5107","metadata":false},{"id":64140,"structure_id":16145,"section_number":"2.2-5108","catch_line":"(Expires July 1, 2026) Virginia Collaborative Economic Development Performance Grant Fund","url":"\/2.2-5108\/","token":"2.2\/II\/B\/51.1\/2.2-5108","metadata":false}],"previous_section":{"id":72587,"structure_id":16145,"section_number":"2.2-5105","catch_line":"(Expires July 1, 2026) Definitions","url":"\/2.2-5105\/","token":"2.2\/II\/B\/51.1\/2.2-5105","metadata":false},"next_section":{"id":84730,"structure_id":16145,"section_number":"2.2-5107","catch_line":"(Expires July 1, 2026) Grant payments","url":"\/2.2-5107\/","token":"2.2\/II\/B\/51.1\/2.2-5107","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-5106\/","history_text":"

This law was first created in 2016. The record of its establishment is cataloged in chapters 776<\/a> and 777<\/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.<\/p>","references":false,"refers_to":[{"id":86911,"section_number":"2.2-4000","catch_line":"Short title; purpose","order_by":null,"url":"\/2.2-4000\/"}],"permalink":{"id":177783,"object_type":"law","relational_id":83564,"identifier":"2.2-5106","token":"2.2\/II\/B\/51.1\/2.2-5106","url":"\/2.2-5106\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-5106\/","token":"2.2\/II\/B\/51.1\/2.2-5106","dublin_core":{"Title":"(Expires July 1, 2026) Virginia Collaborative Economic Development Performance Grants","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-5106","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Subject to the appropriation by the General Assembly of sufficient moneys to the Virginia Collaborative Economic Development Performance Grant Fund<\/span>, participating localities<\/span> may be eligible for grants as provided in this section, subject to the conditions set forth in this section and in the guidelines developed pursuant to subsection E. In order<\/span> to be eligible to apply for a grant, the participating localities<\/span> shall have contributed to a project or effort described in a collaborative economic development plan<\/span> an amount as determined pursuant to subsection C, and the participating localities<\/span> shall demonstrate that the projects or efforts undertaken pursuant to the collaborative economic development plan<\/span> induced or resulted in the location or expansion of a certified company<\/span> in the participating localities<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Grants shall be paid to the participating localities<\/span> in the year following certification by the Partnership<\/span> of a certified company<\/span>. Grants may be paid annually for up to six years so long as the certified company<\/span> substantially maintains the new jobs<\/span> and capital investment<\/span>, and the participating localities<\/span> continue to implement any relevant provisions of the collaborative economic development plan<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> 1. After taking into consideration other state and local financial commitments made to the certified company<\/span>, the annual amount of a grant from the Fund<\/span> shall be not more than an amount equal to 45 percent of the total annual amount of personal income tax withheld for payment to the Virginia Department of Taxation from employees holding new jobs<\/span> at the applicable certified company<\/span>. By March 31 of each year, the Partnership<\/span> and the Virginia Department of Taxation shall determine whether a certified company<\/span> has met or substantially maintained the new job<\/span> and capital investment<\/span> requirements and shall compute, based on the amount of personal income tax withheld from employees holding new jobs<\/span>, the moneys available to be disbursed as performance grants to the participating localities<\/span>. If an application for a grant is approved pursuant to subsection D, the aggregate amount of grants awarded for that application over a six-year period shall not exceed 50 percent of the total investment or contributions of the participating localities<\/span> to the economic development project or effort. Approved grants shall be disbursed annually to or for the benefit of the participating localities<\/span> in accordance with the terms of the collaborative economic development plan<\/span>. The aggregate amount of grants payable pursuant to this chapter shall not exceed $20 million in any fiscal year. The Board<\/span> may prorate the grants payable in a fiscal year if the amount of grants applied for and awarded exceeds $20 million. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Notwithstanding the provisions of subdivision 1, if the Board<\/span> makes a written finding<\/span> of significant fiscal distress in or extraordinary economic opportunity for the participating localities<\/span>, the Board<\/span> may award an aggregate amount of grants for an application approved pursuant to subsection D that is up to 100 percent of the total investment or contributions of the participating localities<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Partnership<\/span> shall forward to the Board<\/span> the economic development project or effort for which it approved a collaborative economic development plan<\/span> and certified a company. The Board<\/span> shall review such economic development project or effort, following the criteria included in the guidelines developed pursuant to subsection E, and vote whether to award a grant pursuant to this chapter. The Board<\/span> shall determine the annual amount and the aggregate amount of the grant to be awarded for each approved economic development project or effort, subject to the provisions of subsection C. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Board<\/span> shall develop guidelines implementing the provisions of this chapter. No grant shall be awarded until the Board<\/span> provides copies of such guidelines for review to the Governor and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. The preparation of the guidelines shall be exempt from the requirements of the Administrative Process Act (§ 2.2-4000<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The Fund<\/span> shall be audited annually by the Auditor of Public Accounts or his legally authorized representatives. Copies of the annual audit shall be distributed to the Governor and to the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(EXPIRES JULY 1, 2026) VIRGINIA COLLABORATIVE ECONOMIC DEVELOPMENT PERFORMANCE\nGRANTS (\u00a7 2.2-5106)\n\nA. Subject to the appropriation by the General Assembly of sufficient moneys to\nthe Virginia Collaborative Economic Development Performance Grant Fund,\nparticipating localities may be eligible for grants as provided in this section,\nsubject to the conditions set forth in this section and in the guidelines\ndeveloped pursuant to subsection E. In order to be eligible to apply for a\ngrant, the participating localities shall have contributed to a project or\neffort described in a collaborative economic development plan an amount as\ndetermined pursuant to subsection C, and the participating localities shall\ndemonstrate that the projects or efforts undertaken pursuant to the\ncollaborative economic development plan induced or resulted in the location or\nexpansion of a certified company in the participating localities.\n\nB. Grants shall be paid to the participating localities in the year following\ncertification by the Partnership of a certified company. Grants may be paid\nannually for up to six years so long as the certified company substantially\nmaintains the new jobs and capital investment, and the participating localities\ncontinue to implement any relevant provisions of the collaborative economic\ndevelopment plan.\n\nC. 1. After taking into consideration other state and local financial\ncommitments made to the certified company, the annual amount of a grant from the\nFund shall be not more than an amount equal to 45 percent of the total annual\namount of personal income tax withheld for payment to the Virginia Department of\nTaxation from employees holding new jobs at the applicable certified company. By\nMarch 31 of each year, the Partnership and the Virginia Department of Taxation\nshall determine whether a certified company has met or substantially maintained\nthe new job and capital investment requirements and shall compute, based on the\namount of personal income tax withheld from employees holding new jobs, the\nmoneys available to be disbursed as performance grants to the participating\nlocalities. If an application for a grant is approved pursuant to subsection D,\nthe aggregate amount of grants awarded for that application over a six-year\nperiod shall not exceed 50 percent of the total investment or contributions of\nthe participating localities to the economic development project or effort.\nApproved grants shall be disbursed annually to or for the benefit of the\nparticipating localities in accordance with the terms of the collaborative\neconomic development plan. The aggregate amount of grants payable pursuant to\nthis chapter shall not exceed $20 million in any fiscal year. The Board may\nprorate the grants payable in a fiscal year if the amount of grants applied for\nand awarded exceeds $20 million.\n\n 2. Notwithstanding the provisions of subdivision 1, if the Board makes a\n written finding of significant fiscal distress in or extraordinary economic\n opportunity for the participating localities, the Board may award an aggregate\n amount of grants for an application approved pursuant to subsection D that is\n up to 100 percent of the total investment or contributions of the\n participating localities.\n\nD. The Partnership shall forward to the Board the economic development project\nor effort for which it approved a collaborative economic development plan and\ncertified a company. The Board shall review such economic development project or\neffort, following the criteria included in the guidelines developed pursuant to\nsubsection E, and vote whether to award a grant pursuant to this chapter. The\nBoard shall determine the annual amount and the aggregate amount of the grant to\nbe awarded for each approved economic development project or effort, subject to\nthe provisions of subsection C.\n\nE. The Board shall develop guidelines implementing the provisions of this\nchapter. No grant shall be awarded until the Board provides copies of such\nguidelines for review to the Governor and the Chairmen of the House Committee on\nAppropriations and the Senate Committee on Finance and Appropriations. The\npreparation of the guidelines shall be exempt from the requirements of the\nAdministrative Process Act (§ 2.2-4000 et seq.).\n\nF. The Fund shall be audited annually by the Auditor of Public Accounts or his\nlegally authorized representatives. Copies of the annual audit shall be\ndistributed to the Governor and to the Chairmen of the House Committee on\nAppropriations and the Senate Committee on Finance and Appropriations.\n\nHISTORY: 2016, cc. 776, 777.","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}}