2020 General Assembly Update: Week 6
Virginia’s House and Senate money committees released their budget proposals on Sunday, February 16th. Both plans place a large focus on including additional money for the Commonwealth's rainy day fund as well as pay raises for state employees and public school teachers.
Committee budget reports can be found here. Wednesday, February 26th is the deadline to act on budget bills and revenue bills of the other house and appoint budget conferees to work out differences prior to the General Assembly’s scheduled adjournment on March 7th.
NVTC has been advocating throughout the legislative session for budget priorities important to Virginia’s technology community. Please find below a listing of select priorities. We will also be including a comprehensive write-up in our Session Wrap-up Report following the conclusion of the legislative session.
- Funding to create the Virginia Innovation Partnership Authority
Governor’s Budget: $79.05 million over biennium
Senate Budget: $54.7 million over biennium
House Budget: $97.5 million over biennium
- Funding to support the Commonwealth Cyber Initiative (CCI). The General Assembly created and invested in the CCI in 2018 to serve as an engine for research, innovation, and commercialization of cybersecurity technologies in Virginia. As well as to help power Virginia's cybersecurity workforce by providing additional advanced and professional cyber degrees with the goal of positioning the Commonwealth as a world leader in cybersecurity.
Governor’s Budget: $7.5 million over biennium for CCI and $7.5 million over biennium for Hub
Senate Budget: $10 million over biennium for CCI and $10 million over biennium for Hub
House Budget: $20 million over biennium for CCI and $20 million over biennium for Hub
- Funding to support the Commonwealth Growth Acceleration Program fund and other indirect investment mechanisms to foster the development of Virginia-based technology companies.
Governor’s Budget: $9 million over the biennium
Senate Budget: $6.2 million over the biennium
House Budget $6.2 million over the biennium
- Funding to support the Commonwealth Commercialization Fund to foster innovative and collaborative research, development, and commercialization efforts in the Commonwealth in projects and programs with a high potential for economic development and job creation
Senate Budget: $11 million over the biennium
House Budget: $19 million over the biennium
- Funding to the Entrepreneurial Ecosystems Division to support and promote technology-based entrepreneurial activities in the Commonwealth.
Senate Budget: $4 million over the biennium
House Budget: $5 million over the biennium
- Funding to the Technology Industry Development Services to support strategic initiatives that explore and shape programs designed to attract and grow innovation in the Commonwealth.
Senate Budget: $2 million over the biennium
House Budget: $3 million over the biennium
- Funding for the Virginia Center for Unmanned Systems. The Center serves as a catalyst for growth of unmanned and autonomous systems vehicles and technologies in Virginia.
Governor’s Budget: 2.5 million over the biennium
$2 million over the biennium in the House and Senate
- Funding for the Virginia Biosciences Health Research Corporation (VBHRC) to develop or maintain investments in research infrastructure tools to facilitate bioscience research.
Governor’s Budget: $8.75 million over the biennium
$7.5 million over the biennium in the House and Senate
- Funding for a new “last dollar plus” community college workforce initiative (“G3”). This program is focused on low income students pursuing applied degrees in high demand areas. Students can expect to earn 60 percent more after gaining these skills. The program will provide businesses with needed workers in skilled trades, health care, law enforcement, and early childhood education
House Budget: $69 million over the biennium
Senate Budget: $96.7 million over the biennium
- Funding for the Virginia Telecommunication Initiative by to accelerate broadband investment in unserved areas of the Commonwealth.
$70 million over the biennium
- Language directing the Chief Workforce Development Advisor and Secretary of Commerce and Trade to study the development, implementation and costs of a statewide paid family and medical leave program for all employers including the Commonwealth of Virginia.
Stay Connected with NVTC's Public Policy Team
NVTC maintains a full-time presence in Richmond during the General Assembly session. If there is anything we can do to help you this session or any feedback we can provide, please feel free to contact NVTC Director of Policy Troy Murphy, or Myles Louria of Hunton Andrews Kurth.
Director of Policy
Senior Director of Government Affairs
Hunton Andrews Kurth