                                 CODE OF VIRGINIA

REVIEW BY MEI COMMISSION (§ 2.2-2764)

A. 1. Before entering into an agreement to acquire, option, or develop any site,
the Authority and the Department shall jointly submit a proposal detailing their
plans for acquisition and development to the Commission. The Commission shall
review such proposal and determine whether the plan is consistent with the
objective described in § 2.2-2763, addresses a demonstrated need of the
Commonwealth, and was approved by the Governor after a recommendation from the
Department pursuant to § 2.2-1149. If the Commission finds that the proposal
meets such objective, addresses such need, and was approved pursuant to §
2.2-1149, the Commission shall certify the proposal. If the Commission finds
that such proposal does not meet the objective of the Program, does not address
such need, or was not approved pursuant to § 2.2-1149, (i) the Commission shall
communicate its findings to the Governor and to the General Assembly and (ii)
the Authority shall not implement the proposal unless the proposal, either in
its original or revised form, is authorized by the General Assembly at its next
session and enacted into law.

   2. Before entering into any project development agreement, the Authority shall
   submit a proposal detailing such agreement to the Commission. The Commission
   shall review such proposal and determine whether the proposal is consistent
   with the objective described in &#xA7; 2.2-2763. If the Commission finds that
   the proposal meets such objective, the Commission shall certify the proposal.
   If the Commission finds that such proposal does not meet the objective of the
   Program, (i) the Commission shall communicate its findings to the Governor and
   to the General Assembly and (ii) the Authority shall not implement the
   proposal unless either (a) the Authority resubmits a revised proposal to the
   Commission and receives a favorable recommendation or (b) the proposal, either
   in its original or revised form, is authorized by the General Assembly at its
   next session and enacted into law.

B. The Authority shall submit the guidelines, procedures, and objective criteria
required by subsection C of &#xA7; 2.2-2761, and any subsequent changes to such
policies, to the Commission. The Commission may provide feedback on such
guidelines, procedures, and objective criteria and recommend proposed changes to
the Authority.

C. Notwithstanding the provisions of subsection B of &#xA7; 30-310, an
affirmative vote by a simple majority of the legislative members of the
Commission shall be sufficient to render a decision of the Commission for
purposes of subsection A or B.

D. A project development agreement subject to review pursuant to this section
shall also be subject to review pursuant to Chapter 47 (&#xA7; 30-309 et seq.)
of Title 30 if the project development agreement provides incentives that exceed
the review thresholds prescribed by that chapter. The value of any property
sold, leased, transferred, or otherwise provided to a private employer at below
fair market value as part of a project development agreement shall be included
in calculating the amount of incentives for purposes of review under Chapter 47
(&#xA7; 30-309 et seq.) of Title 30.

E. The chairman of the Commission shall report annually by the first day of each
regular session of the General Assembly on all decisions made by the Commission
in the previous year.

HISTORY: 2023, c. 779.