Creates grant programs to replace barge and rail usage tax credit and Virginia port volume increase tax credit when those credits expire on 1/1/25, and creates Port of VA Economic Development Grant Program consisting of two programs.

Creates grant programs to replace the barge and rail usage tax credit and the Virginia port volume increase tax credit when those credits expire on January 1, 2025. Creates a new Port of Virginia Economic Development Grant Program consisting of two component programs: the Economic and Infrastructure Development Grant Program and the International Trade Facility Grant Program. Moves the sunset date of the existing Port of Virginia Economic and Infrastructure Development Grant Fund and Program from June 30, 2025, to December 31, 2024.

Effective 7/1/23. Companion to VA SB 1345.

01/10/2023 Referred to House Committee on Agriculture, Chesapeake and Natural Resources
01/25/2023 Passed from House Committee on Agriculture, Chesapeake and Natural Resources.
01/25/2023 Referred to House Committee on Finance.
01/27/2023 Referred to House Finance Subcommittee #1.
01/30/2023 House Finance Subcommittee #1 recommends reporting for passage.
02/01/2023 Passed House Committee on Finance.
02/03/2023 Read first time in House.
02/06/2023 Read second time in House and engrossed.
02/07/2023 Read third time and passed House.
02/08/2023 Constitutional reading in Senate dispensed.
02/08/2023 Referred to Senate Committee on Finance and Appropriations.
02/14/2023 Passed Senate Committee on Finance and Appropriations.
02/14/2023 Constitutional reading dispensed.
02/15/2023 Read third time in Senate.
02/15/2023 Passed Senate.
02/20/2023 Enrolled in House.
03/02/2023 Enrolled Bill communicated to Governor.
03/22/2023 Approved by Governor.