Bill
Bill > HB363
summary
Introduced
01/12/2026
01/12/2026
In Committee
02/04/2026
02/04/2026
Crossed Over
02/02/2026
02/02/2026
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Commonwealth of Virginia Innovation Partnership Act; Regional Innovation Fund; Commonwealth Commercialization Fund; matching funds. Provides that, for purposes of the Regional Innovation Fund and the Commonwealth Commercialization Fund, any awards from such funds of $100,000 or less shall not require matching funds.
AI Summary
This bill amends the Commonwealth of Virginia Innovation Partnership Act to modify the matching fund requirements for awards from two key funds: the Regional Innovation Fund and the Commonwealth Commercialization Fund. Specifically, it removes the requirement for matching funds for any awards from these funds that are $100,000 or less, making it easier for smaller projects and startups to receive financial support without needing to secure additional funding. The Regional Innovation Fund supports regional economic development activities, capacity building, infrastructure for innovation, and technical assistance to startups, while the Commonwealth Commercialization Fund aims to foster research, development, and commercialization efforts with high economic development potential.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Committee on Finance and Appropriations (on 02/04/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB363 |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (HB363) | https://lis.blob.core.windows.net/files/1100020.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB363/text/HB363 |
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