                                 CODE OF VIRGINIA

GRANTS IN LIEU OF OR IN ADDITION TO TAX CREDITS (§ 58.1-439.17)

The Tobacco Region Revitalization Commission created under § 3.2-3101 may
establish a grant program for purposes of encouraging qualified investments and
eligible research and development activities in tobacco-dependent localities. If
the Commission elects to establish such a program, the program may be in
addition to the tax credit programs allowed under former §§ 58.1-439.13 and
58.1-439.14. The criteria to receive grants shall be the same as the criteria
for the tax credits allowed under former §§ 58.1-439.13 and 58.1-439.14 as
they were in effect on December 31, 2009. In any case where a grant is awarded
for any investment or for eligible research and development activity, the person
receiving the grant may not use such investment or research and development
activity as the basis for claiming any credit provided under the Code of
Virginia.

HISTORY: 2000, c. 1042; 2016, c. 305.