SB1208
Current and Mature Semiconductor Technology Grant Fund; established.
Status:
Enacted
Latest Action:
March 18, 2025
Acts of Assembly Chapter text (CHAP0045)
Chief Patron:
Louise Lucas (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 HB 2358. (Less)-
Bill History
- 01/08/2025 - Senate: Prefiled and ordered printed; Offered 01-08-2025 25100964D
- 01/08/2025 - Senate: Referred to Committee on Commerce and Labor
- 01/20/2025 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB1208)
- 01/20/2025 - Senate: Rereferred from Commerce and Labor and Rereferred to Finance and Appropriations to Finance and Appropriations (12-Y 0-N)
- 01/20/2025 - Senate: Rereferred to Finance and Appropriations
- 01/28/2025 - Senate: Reported from Finance and Appropriations (15-Y 0-N)
- 01/29/2025 - Senate: Rules suspended
- 01/29/2025 - Senate: Constitutional reading dispensed (on 1st reading) (38-Y 0-N)
- 01/29/2025 - Senate: Passed by for the day
- 01/30/2025 - Senate: Read second time and engrossed
- 01/30/2025 - Senate: Rules suspended
- 01/30/2025 - Senate: Constitutional reading dispensed (on 3rd reading) (39-Y 1-N)
- 01/30/2025 - Senate: Passed Senate (40-Y 0-N)
- 02/04/2025 - House: Placed on Calendar
- 02/04/2025 - House: Read first time
- 02/04/2025 - House: Referred to Committee on Appropriations
- 02/06/2025 - House: Assigned Approps sub: Commerce Agriculture & Natural Resources
- 02/07/2025 - House: Placed on Appropriations Agenda
- 02/10/2025 - House: Reported from Appropriations (22-Y 0-N)
- 02/12/2025 - House: Read second time
- 02/13/2025 - House: Moved from Uncontested Calendar to Regular Calendar
- 02/13/2025 - House: Read third time
- 02/13/2025 - House: Passed House (88-Y 9-N)
- 02/18/2025 - Senate: Enrolled
- 02/18/2025 - Senate: Bill text as passed Senate and House (SB1208ER)
- 02/18/2025 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB1208)
- 02/18/2025 - House: Signed by Speaker
- 02/20/2025 - Senate: Signed by President
- 03/03/2025 - Senate: Enrolled Bill Communicated to Governor on March 3, 2025
- 03/03/2025 - Governor's Action Deadline 11:59 p.m., March 24, 2025
- 03/18/2025 - Approved by Governor-Chapter 45 (Effective 07/01/25)
- 03/18/2025 - Acts of Assembly Chapter text (CHAP0045)
