VA HB1799 | 2015 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on March 27 2015 - 100% progression
Action: 2015-03-27 - Governor: Acts of Assembly Chapter text (CHAP0685)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on March 27 2015 - 100% progression
Action: 2015-03-27 - Governor: Acts of Assembly Chapter text (CHAP0685)
Text: Latest bill text (Chaptered) [HTML]
Summary
Innovation and Entrepreneurship Investment Authority; powers. Provides the Innovation and Entrepreneurship Investment Authority (commonly known as the CIT) with the power to exclusively, or with any other person, form and otherwise develop, own, operate, govern, and otherwise direct the disposition of assets of separate legal entities, provided that such entities are formed solely for the purpose of managing and administering any assets disposed of by the Authority. The bill provides that these legal entities may include limited liability companies, limited partnerships, charitable foundations, real estate holding companies, investment holding companies, nonstock corporations, and benefit corporations and provides that any such entities shall be operated under the governance of the Authority. The bill sets out other requirements for such entities, including that they shall not be deemed to be a state or governmental agency, advisory agency, or public body or instrumentality and that no director, officer, or employee of any such entity shall be deemed to be an officer or employee for purposes of the State and Local Government Conflict of Interests Act. The bill does provide, however, that the Auditor of Public Accounts or his legally authorized representatives shall annually audit the financial accounts of the Authority and any such entity, provided that the working papers and records of the Auditor of Public Accounts relating to such audits shall not be subject to the provisions of the Virginia Freedom of Information Act. The bill also sets the quorum for the Authority's board of directors at nine and requires the reporting of certain additional information to the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance, the Secretary of Technology, and the Director of Planning and Budget.
Title
Innovation and Entrepreneurship Investment Authority; powers, report.
Sponsors
Roll Calls
2015-02-23 - House - House: VOTE: ADOPTION (91-Y 4-N) (Y: 93 N: 4 NV: 5 Abs: 0) [PASS]
2015-02-19 - Senate - Senate: Passed Senate with amendment (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-18 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-16 - Senate - Senate: Reported from General Laws and Technology with amendment (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]
2015-02-10 - House - House: VOTE: PASSAGE (97-Y 3-N) (Y: 99 N: 3 NV: 0 Abs: 0) [PASS]
2015-02-06 - House - House: Reported from Appropriations with substitute (20-Y 0-N) (Y: 20 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-04 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2015-02-02 - House - House: Reported from Science and Technology with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2015-02-19 - Senate - Senate: Passed Senate with amendment (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-18 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-16 - Senate - Senate: Reported from General Laws and Technology with amendment (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]
2015-02-10 - House - House: VOTE: PASSAGE (97-Y 3-N) (Y: 99 N: 3 NV: 0 Abs: 0) [PASS]
2015-02-06 - House - House: Reported from Appropriations with substitute (20-Y 0-N) (Y: 20 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-04 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2015-02-02 - House - House: Reported from Science and Technology with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2015-03-27 | Governor: Acts of Assembly Chapter text (CHAP0685) | |
| 2015-03-27 | Governor: Approved by Governor-Chapter 685 (effective 7/1/15) | |
| 2015-02-27 | Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015 | |
| 2015-02-27 | House | Enrolled Bill communicated to Governor on 2/27/15 |
| 2015-02-26 | Senate | Signed by President |
| 2015-02-26 | House | Signed by Speaker |
| 2015-02-26 | House | Bill text as passed House and Senate (HB1799ER) |
| 2015-02-26 | House | Enrolled |
| 2015-02-23 | House | VOTE: ADOPTION (91-Y 4-N) |
| 2015-02-23 | House | Senate amendment agreed to by House (91-Y 4-N) |
| 2015-02-20 | House | Placed on Calendar |
| 2015-02-19 | Senate | Passed Senate with amendment (38-Y 0-N) |
| 2015-02-19 | Senate | Engrossed by Senate as amended |
| 2015-02-19 | Senate | Committee amendment agreed to |
| 2015-02-19 | Senate | Reading of amendment waived |
| 2015-02-19 | Senate | Read third time |
| 2015-02-18 | Senate | Constitutional reading dispensed (38-Y 0-N) |
| 2015-02-16 | Senate | Reported from General Laws and Technology with amendment (13-Y 0-N) |
| 2015-02-11 | Senate | Referred to Committee on General Laws and Technology |
| 2015-02-11 | Senate | Constitutional reading dispensed |
| 2015-02-10 | House | VOTE: PASSAGE (97-Y 3-N) |
| 2015-02-10 | House | Read third time and passed House (97-Y 3-N) |
| 2015-02-09 | House | Engrossed by House - committee substitute HB1799H2 |
| 2015-02-09 | House | Committee substitute of Appropriations agreed to 15104861D-H2 |
| 2015-02-09 | House | Committee substitute of Science and Technology rejected 15104633D-H1 |
| 2015-02-09 | House | Read second time |
| 2015-02-07 | House | Read first time |
| 2015-02-06 | House | Committee substitute printed 15104861D-H2 |
| 2015-02-06 | House | Reported from Appropriations with substitute (20-Y 0-N) |
| 2015-02-04 | House | Subcommittee recommends reporting with amendment(s) (7-Y 0-N) |
| 2015-02-03 | House | Assigned App. sub: Agriculture, Commerce, Technology and Natural Resources |
| 2015-02-02 | House | Referred to Committee on Appropriations |
| 2015-02-02 | House | Committee substitute printed 15104633D-H1 |
| 2015-02-02 | House | Reported from Science and Technology with substitute (21-Y 1-N) |
| 2015-01-13 | House | Referred to Committee on Science and Technology |
| 2015-01-13 | House | Prefiled and ordered printed; offered 01/14/15 15103438D |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 2 | 2 | 2220 | (n/a) | See Bill Text |
| 2 | 2 | 2221 | (n/a) | See Bill Text |
| 2 | 2 | 2221.1 | (n/a) | See Bill Text |
