                                 CODE OF VIRGINIA

COOPERATIVE MARKETING FUND (§ 2.2-2319)

A. There is established the Cooperative Marketing Fund (Marketing Fund) for the
purpose of encouraging, stimulating, and supporting the tourism segment of the
economy of the Commonwealth and the direct and indirect benefits that flow from
the success of such industry. To create the public-private partnership
envisioned by such Marketing Fund, the Marketing Fund shall be established out
of the sums appropriated by the General Assembly for the purpose of matching
eligible funds to be used for the promotion, marketing, and advertising of the
Commonwealth&#8217;s many tourist attractions and locations. Proposals for new
programs as well as existing programs with measurable return on investment shall
be eligible for matching grant funds under this section only if they promote,
benefit, market and advertise locations or destinations that are (i) solely
within the territorial limits of the Commonwealth or (ii) in both the
Commonwealth and any adjoining state, in which instance the matching grant funds
should be used to promote locations and destinations located within the
territorial limits of the Commonwealth. The funds made available in the
appropriations act for the Marketing Fund shall be administered and managed by
the Authority.

B. In the event more than one person seeks to take advantage of the benefits
conferred by this section and the Marketing Fund is insufficient to accommodate
all such requests, the matching formula shall be adjusted, to the extent
practicable, to afford each request for which there is a valid public purpose an
equitable share.

C. All persons seeking to receive or qualify for such matching funds shall apply
to the Authority in January of the year preceding the fiscal year for which
funds are sought, and to the extent the Governor concurs in such funding
request, it shall be reflected in the Governor&#8217;s Budget Bill filed
pursuant to &#xA7; 2.2-1509. The application shall set forth the
applicant&#8217;s proposals in detail. The Authority shall develop guidelines
setting forth the criteria it will weigh in considering such applications; such
guidelines may indicate a preference for proposals submitted by nonprofit
organizations or state agencies. The guidelines may require that as a condition
of receiving any grant or other incentive that is based on employment goals, a
recipient company must provide copies of employer quarterly payroll reports
provided to the Virginia Employment Commission to verify the employment status
of any position included in the employment goal.

HISTORY: 1999, cc. 852, 881, § 2.1-548.60; 2001, c. 844; 2002, c. 442; 2013, c.
547; 2017, cc. 69, 267.