A. There is hereby created in the state treasury a special nonreverting fund known as the Governor's New Airline Service Incentive Fund, referred to in this section as "the Fund." The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose and any gifts, donations, grants, bequests, and other funds received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of a biennium shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used, in the sole discretion of the Governor, for grants to airlines serving local, regional, national, and international airports in Virginia as provided in subsection B. Revenues in the Fund shall be used to support the development of additional commercial air services in the Commonwealth, provided that such service advances the goals established in the commercial air service plan most recently adopted pursuant to § 5.1-2.2:2. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Executive Director of the Authority.
B. The Fund shall be used by the Governor to provide or assist in the provision of marketing, advertising, or promotional activities by airlines in connection with the launch of new air passenger service at Virginia airports in order to incentivize airlines that have committed to commencing new air passenger service in Virginia. The Secretary of Transportation, in consultation with the Secretary of Commerce and Trade and the Secretary of Finance, shall develop guidelines and criteria to be used in awarding grants from the Fund. The guidelines shall include a provision that a grant from the Fund shall not be awarded if it can be reasonably anticipated to result in the reduction of existing commercial air service at another airport located within the Commonwealth. The guidelines may require that as a condition of receiving any grant from the Fund an airline enter into a performance agreement or memorandum of understanding with the Commonwealth (i) setting a minimum number of nonstop roundtrip flights per week, a minimum number of nonstop roundtrip flights within 12 months of the start date of new air service, or a minimum passenger load factor, or any combination thereof, and (ii) providing that any grant received by an airline shall be repaid by the airline or reduced proportionately if such conditions are not met.
2020, cc. 1119, 1120.
Structure Code of Virginia
Title 2.2 - Administration of Government
§ 2.2-2201. Short title; definitions
§ 2.2-2202. Declaration of public purpose; Virginia Commercial Space Flight Authority created
§ 2.2-2203. Board of directors; members and officers; Executive Director
§ 2.2-2203.3. Employees; employment; personnel rules
§ 2.2-2203.4. Trust for postemployment benefits authorized; administration
§ 2.2-2204. Powers of the Authority
§ 2.2-2206. Trust indenture or agreement securing bonds
§ 2.2-2207. Moneys received deemed trust funds
§ 2.2-2208. Proceedings by bondholder or trustee to enforce rights
§ 2.2-2209. Bonds made securities for investment and deposit
§ 2.2-2210. Refunding bonds; bonds for refunding and for costs of additional projects
§ 2.2-2211. Grants or loans of public or private funds
§ 2.2-2212. Moneys of Authority
§ 2.2-2213. Forms of accounts and records; audit; annual report
§ 2.2-2214. Exemption from taxes or assessments
§ 2.2-2216. Appropriations by any government
§ 2.2-2217. Conveyance, lease or transfer of property by a city or county to the Authority
§ 2.2-2234. Short title; declaration of public purpose; Authority created
§ 2.2-2235.1. Board of directors; members and officers; Chief Executive Officer
§ 2.2-2236. Powers and duties of the Chief Executive Officer
§ 2.2-2236.1. Internal auditor; duties
§ 2.2-2237. Powers of Authority
§ 2.2-2237.2. Office of the Attorney General to provide instruction to Board
§ 2.2-2237.3. Division of Incentives
§ 2.2-2238. Economic development services
§ 2.2-2239. Planning and research
§ 2.2-2239.1. Advisory Committee on Business Development and Marketing
§ 2.2-2239.2. Advisory Committee on International Trade
§ 2.2-2240. Nonstock corporation to assist economic development
§ 2.2-2240.2:1. Virginia Business Ready Sites Program Fund
§ 2.2-2240.4. Virginia New Jobs Program
§ 2.2-2240.5. Workforce Retraining Program
§ 2.2-2240.6. Small Business New Jobs and Retraining Programs
§ 2.2-2241. Moneys of Authority
§ 2.2-2242. Forms of accounts and records
§ 2.2-2243. Exemptions from taxes or assessments
§ 2.2-2244. Exemption of Authority from personnel and procurement procedures
§ 2.2-2245. Appropriations by any government
§ 2.2-2246. Conveyance, lease or transfer of property by a city or county to the Authority
§ 2.2-2260. Short title; definition
§ 2.2-2261. Virginia Public Building Authority created; purpose; membership; terms; expenses; staff
§ 2.2-2262. Board of directors
§ 2.2-2263. Powers and duties of Authority; limitations
§ 2.2-2264. Revenue bonds generally
§ 2.2-2265. Trust agreement securing bonds
§ 2.2-2267. Moneys received deemed trust funds
§ 2.2-2268. Proceedings by bondholder or trustee to enforce rights
§ 2.2-2269. Bonds made securities for investment and deposit
§ 2.2-2270. Revenue refunding bonds; bonds for refunding and for cost of additional projects
§ 2.2-2271. Grants or loans of public or private funds
§ 2.2-2272. Moneys of Authority; audit
§ 2.2-2273. Contracts, leases and other arrangements
§ 2.2-2274. Resolutions, rules and regulations, etc.
§ 2.2-2275. Competition in award of contracts; contractors to give surety; terms of contracts
§ 2.2-2276. Eminent domain; right of entry
§ 2.2-2277. Jurisdiction of suits against Authority; service of process
§ 2.2-2278. Exemption from taxes or assessments
§ 2.2-2279. Short title; definitions
§ 2.2-2280. Declaration of public purpose; Authority created
§ 2.2-2281. Construction of article
§ 2.2-2283. Meetings of the Board
§ 2.2-2284. Executive Director; appointment; duties
§ 2.2-2285. Powers of the Authority
§ 2.2-2287. Power to borrow money and issue bonds
§ 2.2-2288. Power to issue bonds to purchase ninety percent guaranteed portion of loans
§ 2.2-2289. Power to issue umbrella bonds
§ 2.2-2290. Insurance or guarantee fund
§ 2.2-2291. Security for bonds; fees and expenses; limitations
§ 2.2-2292. Public hearing and approval
§ 2.2-2293. Loans to lenders; conditions
§ 2.2-2294. Investment in, purchase or assignment of loans; conditions
§ 2.2-2295. Regulations of the Authority
§ 2.2-2296. How bonds paid and secured
§ 2.2-2297. Liability of Commonwealth, political subdivisions and members of Board
§ 2.2-2298. Authorization of bonds by resolution; contents of bond sale; manner
§ 2.2-2299. Resolution authorizing issuance of bonds; provisions
§ 2.2-2300. Pledge by Authority
§ 2.2-2301. Purchase of bonds of Authority
§ 2.2-2302. Bonds secured by indenture; contents; expenses; how treated
§ 2.2-2303. Signatures of prior members or officers; validity
§ 2.2-2304. Deposit of money; expenditures; security for deposits
§ 2.2-2305. Contracts with holders of bonds; how money secured
§ 2.2-2306. Bondholder protection
§ 2.2-2307. Bonds as legal investments and securities
§ 2.2-2308. Expenses of Authority; liability of Commonwealth or political subdivision prohibited
§ 2.2-2309. Creation, administration, and management of Virginia Export Fund
§ 2.2-2310. Creation, administration, and management of Virginia Small Business Growth Fund
§ 2.2-2312. Annual report; audit
§ 2.2-2312.1. Risk-based review of outstanding loans; report
§ 2.2-2313. Exemption from taxation
§ 2.2-2314. Administrative Process Act not applicable
§ 2.2-2315. Short title; declaration of public purpose; Authority created
§ 2.2-2316. Executive Director; Board of Directors; members and officers
§ 2.2-2317. Appointment and duties of Executive Director
§ 2.2-2318. Powers of Authority
§ 2.2-2319. Cooperative Marketing Fund
§ 2.2-2320. Governor's Motion Picture Opportunity Fund
§ 2.2-2320.1. Governor's New Airline Service Incentive Fund
§ 2.2-2320.2. Tourism promotion grants
§ 2.2-2321. Grants from Commonwealth
§ 2.2-2322. Deposit of money; expenditures; security for deposits
§ 2.2-2323. Forms of accounts and records; annual reports; audit
§ 2.2-2324. Exemption from taxation
§ 2.2-2325. Exemptions from personnel and procurement procedures
§ 2.2-2326. Sovereign immunity
§ 2.2-2327. Liberal construction of article
§ 2.2-2338. Board of Trustees; membership
§ 2.2-2339. (Effective until date pursuant to Va. Const., Art. IV, § 13) Duties of the Authority
§ 2.2-2339. (Effective pursuant to Va. Const., Art. IV, § 13) Duties of the Authority
§ 2.2-2339.1. Fort Monroe Master Plan; approval by Governor
§ 2.2-2340. Additional declaration of policy; powers of the Authority; penalty
§ 2.2-2341. Relationship to the City of Hampton
§ 2.2-2341.1. Control over the use of certain vehicles
§ 2.2-2343. Authority may borrow money, accept contributions, etc.
§ 2.2-2344. Authority empowered to issue bonds; additional security; liability thereon
§ 2.2-2345. Powers and duties of executive director
§ 2.2-2347. Exemption from taxation
§ 2.2-2348. Rents, fees, and charges; disposition of revenues
§ 2.2-2349. Powers conferred additional and supplemental; liberal construction
§ 2.2-2349.1. Chapter controlling over inconsistent laws
§ 2.2-2350. Sovereign immunity
§ 2.2-2351. Short title; declaration of public purpose
§ 2.2-2353. Board of directors; members; president
§ 2.2-2354. Powers and duties of the president
§ 2.2-2355. Powers of the Authority
§ 2.2-2356. Designation of staff of not-for-profit entity
§ 2.2-2357. Division of Entrepreneurial Ecosystems
§ 2.2-2358. Division of Investment
§ 2.2-2359. Division of Commercialization
§ 2.2-2360. Virginia Innovation Index
§ 2.2-2361. Grants or loans of public or private funds
§ 2.2-2362. Moneys of Authority; examination of books by the Auditor of Public Accounts
§ 2.2-2363. Exemption from taxes or assessments
§ 2.2-2364. Exemption of Authority from personnel and procurement procedures
§ 2.2-2366. Opioid Abatement Authority established
§ 2.2-2367. Board of directors; members
§ 2.2-2368. Duties of the Authority
§ 2.2-2369. Powers of the Authority
§ 2.2-2370. Conditions and restrictions on financial assistance
§ 2.2-2371. Cooperation with other agencies
§ 2.2-2372. Form and audit of accounts and records
§ 2.2-2374. Opioid Abatement Fund
§ 2.2-2375. Exemption from taxes or assessments
§ 2.2-2376. Exemption of Authority from personnel and procurement procedures