HB2358
Current and Mature Semiconductor Technology Grant Fund; established.
Status:
Enacted
Latest Action:
March 18, 2025
Acts of Assembly Chapter text (CHAP0034)
Chief Patron:
Luke Torian (D)
Session:
2025 Regular Session
Summary
As Introduced. Current and Mature Semiconductor Technology Grant Fund.
Establishes the Current and Mature Semiconductor Technology Grant Fund to, subject to appropriation, fund 15 annual grant award installments, in an aggregate amount not to exceed $60 million, to a qualified company that engages in the manufacture of semiconductors and that executes a memorandum of understanding with the Commonwealth and, ... (More) on and after July 1, 2024, but before June 30, 2040, is expected to (i) make a capital investment, defined in the bill, of at least $2,170,130,850 and (ii) create and maintain at least 340 new full-time jobs, in an eligible locality, defined in the bill. The bill also authorizes bonus grants of up to $10 million that a qualified company may earn for certain new full-time job creation and maintenance. The bill also repeals the existing Semiconductor Manufacturing Grant Fund and is identical to SB 1208. (Less)-
Bill History
- 01/08/2025 - House: Prefiled and ordered printed; Offered 01-08-2025 25100963D
- 01/08/2025 - House: Referred to Committee on Appropriations
- 01/18/2025 - House: Assigned Approps sub: Commerce Agriculture & Natural Resources
- 01/20/2025 - House: Fiscal Impact Statement from Department of Planning and Budget (HB2358)
- 01/21/2025 - House: Placed on Appropriations Agenda
- 01/22/2025 - House: Subcommittee recommends reporting (8-Y 0-N)
- 01/23/2025 - House: Placed on Appropriations Agenda
- 01/24/2025 - House: Reported from Appropriations (22-Y 0-N)
- 01/28/2025 - House: Read first time
- 01/29/2025 - House: Moved from Uncontested Calendar to Regular Calendar
- 01/29/2025 - House: Read second time and engrossed
- 01/30/2025 - House: Read third time and passed House (88-Y 7-N)
- 01/31/2025 - Senate: Constitutional reading dispensed (on 1st reading)
- 01/31/2025 - Senate: Referred to Committee on Finance and Appropriations
- 02/05/2025 - Senate: Reported from Finance and Appropriations (13-Y 0-N)
- 02/06/2025 - Senate: Rules suspended
- 02/06/2025 - Senate: Constitutional reading dispensed (on 2nd reading) (40-Y 0-N)
- 02/06/2025 - Senate: Passed by for the day
- 02/07/2025 - Senate: Read third time
- 02/07/2025 - Senate: Passed Senate (39-Y 0-N)
- 02/10/2025 - House: Enrolled
- 02/10/2025 - House: Bill text as passed House and Senate (HB2358ER)
- 02/10/2025 - House: Signed by Speaker
- 02/11/2025 - House: Fiscal Impact Statement from Department of Planning and Budget (HB2358)
- 02/13/2025 - Senate: Signed by President
- 02/18/2025 - House: Enrolled Bill communicated to Governor on February 18, 2025
- 02/18/2025 - Governor's Action Deadline 11:59 p.m., March 24, 2025
- 03/18/2025 - Approved by Governor-Chapter 34 (Effective 07/01/25)
- 03/18/2025 - Acts of Assembly Chapter text (CHAP0034)
