                                 CODE OF VIRGINIA

REQUIREMENTS FOR GRANTS GENERALLY (§ 2.2-5103)

A. Any eligible manufacturer, eligible company, or research and development
service eligible to apply for a grant under this chapter shall provide evidence,
satisfactory to the Secretary, of the amount of the capital investment, the
number of new jobs created as a result of the capital investment and such other
evidence that requirements of this chapter have been satisfied. An eligible
manufacturer, eligible company, or research and development service whose
application has been approved shall continue to comply with the requirements for
grant eligibility during the grant payment period. The Partnership shall verify
that the conditions for approval of any grant have been satisfied. The
Partnership may require that as a condition of receiving any grant or loan
incentive that is based on employment goals, a recipient manufacturer, company,
or research and development service must submit 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.

B. Prior to any grant payment, the Partnership shall certify to (i) the
Comptroller and (ii) each applicant the amount of the grant to which such
applicant is entitled. Subject to the appropriation by the General Assembly of
sufficient moneys to the appropriate subfund, payment of such grant shall be
made from the subfund by check issued by the State Treasurer on warrant of the
Comptroller within 60 days of certification.

C. As a condition of receipt of a grant, a major eligible employer or eligible
company shall make available to the Partnership for inspection upon request all
relevant and applicable documents to determine whether the requirements for the
receipt of grants as set forth in this chapter have been satisfied. All such
documents appropriately identified by the major eligible employer or eligible
company shall be considered confidential and proprietary.

D. Within 30 days of each calendar quarter, the Secretary shall provide a report
to the chairmen of the House Committee on Appropriations and the Senate
Committee on Finance and Appropriations that shall include, but is not limited
to, the following information: the name of the eligible manufacturer, eligible
company, or research and development service determined to be eligible for a
grant; the product it manufactures, the nature of the research, or the products
it produces or services it provides, as applicable; the locality of the
manufacturing, research and development, or other facility; the amount of the
grant made or committed from the Fund; the number of new jobs created or
projected to be created; the amount of the manufacturer&#8217;s, eligible
company&#8217;s, or research and development service&#8217;s capital investment;
and the timetable for the completion of the capital investment and new jobs
created or employment creation, as applicable.

E. The Secretary shall provide grants and commitments from the Fund in an amount
not to exceed the dollar amount contained in the Fund. If funds are committed
for years beyond the fiscal years covered under the existing appropriation act,
the State Treasurer shall set aside and reserve such funds as have been
committed, and such funds shall remain in the Fund for those future fiscal
years. No grant shall be payable in the years beyond the existing appropriation
act unless such funds are currently available in the Fund.

HISTORY: 1999, cc. 875, 961, § 2.1-548.43:5; 2000, c. 571; 2001, c. 844; 2005,
c. 431; 2013, c. 547.