A. The Department of Small Business and Supplier Diversity, the Virginia Economic Development Partnership Authority, the Virginia Tourism Authority, the Tobacco Region Revitalization Commission, a nonprofit, nonstock corporation created pursuant to § 2.2-2240.1, any county, city, or town, or local or regional industrial or economic development authorities created in accordance with law have the authority, upon the agreement of the parties, to extend the performance period for any performance agreement.
B. For the purposes of this section, "performance agreement" means any agreement, contract, or memorandum of understanding that imposes an obligation for minimum private investment or the creation of new jobs in exchange for grants or other funds, or loans of money from an entity specified in subsection A.
C. Nothing in this section shall be construed or interpreted to authorize or allow for any payment or appropriation of funds except as provided in the general appropriation act.
2009, c. 224; 2013, c. 482.
Structure Code of Virginia
Chapter 1 - General Provisions
§ 11-2. When written evidence required to maintain action
§ 11-2.01. Promise after bankruptcy must be in writing
§ 11-2.2. Unsolicited goods deemed gift to recipient
§ 11-2.4. Notice of possible filing of mechanics' lien required
§ 11-3. Sealed writings; writings not purporting to be sealed
§ 11-4. Sizes of type in printed contracts
§ 11-4.1. Certain indemnification provisions in construction contracts declared void
§ 11-4.1:1. Waiver of payment bond claims and contract claims; construction contracts
§ 11-4.3. When acceleration of payment or repossession of consumer goods not allowed
§ 11-4.5. Certain indemnification provisions in motor carrier transportation contracts declared void
§ 11-4.6. (Effective January 1, 2023) Liability of contractor for wages of subcontractor's employees
§ 11-7.1. Certain entities' authority to extend performance agreements