Summary as introduced:
Virginia Economic Development Partnership Authority; required provisions in economic development agreements. Provides that any contract or agreement entered into between the Authority and a business that includes monetary or other financial incentives to encourage the business to locate in or expand its existing operations to a designated community shall contain a provision that requires the business to remain in such community for a period of at least five years from the date of the agreement. Any such agreement shall further provide that should the business leave the community or substantially terminate its business in the community before the end of the five-year period, it shall be required to refund any monetary or other financial incentive given to it pursuant to the agreement. Full text:
01/21/05 House: Presented & ordered printed 056324456 pdf | impact statement
01/21/05 House: Presented & ordered printed 056324456
01/21/05 House: Referred to Committee on General Laws
01/25/05 House: Assigned to General Laws sub-committee: Subcommittee #4...
02/03/05 House: Tabled in General Laws (10-Y 5-N)