A. The Authority shall develop, subject to approval by the Board, a Virginia Innovation Index (the Index), a comprehensive research and technology strategic plan for the Commonwealth to identify research areas worthy of Commonwealth economic development. The goal of the Index shall be to develop a cohesive and comprehensive framework through which to encourage collaboration between the Commonwealth's public institutions of higher education, private sector industries, and economic development entities in order to focus on the complete lifecycle of research, development, and commercialization. The framework shall serve as a means to (i) identify the Commonwealth's key industry sectors in which investments in technology should be made by the Commonwealth; (ii) identify basic and applied research opportunities in these sectors that exhibit commercial promise; (iii) encourage commercialization and economic development activities in the Commonwealth in these sectors; and (iv) help ensure that investments of public funds in the Commonwealth in basic and applied research are made prudently in focused areas for projects with significant potential for commercialization and economic growth in the Commonwealth.
B. The Index shall be used to determine areas of focus for grants, loans, and investments by the Authority pursuant to this article.
C. In developing the Index, the Authority shall:
1. Consult with the chief research officers at public institutions of higher education in the Commonwealth regarding the strategic plan for each institution in order to identify common themes;
2. Consult with public institutions of higher education in the Commonwealth, the Virginia Economic Development Partnership, and any other entity deemed relevant to catalog the Commonwealth's assets in order to identify the areas of research and development in which the Commonwealth has a great likelihood of excelling in applied research and commercialization;
3. Make recommendations for the alignment of research and development and economic growth in the Commonwealth, identifying the industry sectors in which the Commonwealth should focus its research, development, investment, and economic development efforts;
4. Establish a process for maintaining an inventory of the Commonwealth's current research and development endeavors in both the public and private sectors that can be used to attract research and commercialization excellence in the Commonwealth;
5. Make recommendations to the Six-Year Capital Outlay Plan Advisory Committee established pursuant to § 2.2-1516 regarding capital construction needs at public institutions of higher education necessary to excel in basic and applied research in identified industry sectors;
6. Solicit feedback from public and private institutions of higher education in the Commonwealth; members of the National Academies of Sciences, Engineering and Medicine; members of the Virginia Academy of Science, Engineering and Medicine; federal research and development assets in the Commonwealth; regional technology councils in the Commonwealth; the Virginia Economic Development Partnership; the Virginia Growth and Opportunity Board; and the private sector;
7. Consult with private industry and industry leaders to identify areas of research and development in which the Commonwealth has a great likelihood of excelling in applied research and commercialization; and
8. Incorporate the work of previous comprehensive research and technology strategic plans developed by the State Council on Higher Education in Virginia.
D. The Authority shall review the Index and make recommendations regarding its update at least once every two years. Such recommended updates shall be submitted to the Board for review and approval.
E. The Authority shall submit a draft of the Index to the Governor and the Chairmen of the Senate Committee on Finance and Appropriations, the House Committee on Appropriations, and the Joint Commission on Technology and Science at least 30 days prior to the Board voting to approve the Index or any subsequent updates. Upon final approval, the Authority shall submit the approved Index, and any subsequent updates, to the Chairmen of the Senate Committee on Finance and Appropriations, the House Committee on Appropriations, and the Joint Commission on Technology and Science.
2020, cc. 1164, 1169.
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