HB 2433 — Economic development authorities; Essex County allowed to appoint one member to Authority.

SESSION ENROLLED VIRGINIA ACTS OF ASSEMBLY ––-- 2023 SESSION CHAPTER E574 An Act to amend and reenact § 15.2-4904 of the Code of Virginia, relating to economic development authorities;

R O [H 2433] Approved LMarch L26, 2023 Be it enacted by the General Assembly of Virginia:

E § 15.2-4904.

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certification and distribution of report concerning bond issuance.

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twofor three-year terms, and one being appointed for one-yeara terms;four-year term.

two being appointed for two-year terms;

two being appointed for three-year terms, and one being appointed for a four-year term.

All terms of office shall be deemed to commence upon the date of the initial appointment to the autHority,authority, and thereafter, in accordance with the provisions of the immediately preceding sentence.

If at 2hethe end of any term of office of any director a successor thereto has not been appointed, then the director whose term of office has expired shall continue to hold office until his successor is appointed and qualified.

the board of supervisors of Mathews County may appoint from five to seven from five to seven members to serve on the board of the authority,authority; with terms staggered as agreed upon by the town council;

the town council of the Town of Louisa may appoint from five to seven members to serve on the board of the authority, with terms staggered as agreed upon by the town council;

the board of supervisors of Russell County may appoint nine members, two of whom shall come from a town that has used its borrowing capacity to borrow $2 million or more for industrial development, with terms staggered as agreed upon by the board of supervisors, and the town council of the Town of South Boston shall appoint two at-large members;

Page County may appointeappoint town nine members, with one member from each incorporated town, one member from each magisterial district, and one member at-large, with terms staggered as agreed upon by the board of supervisors;

the board of supervisors of Powhatan ofCounty Coeburn may appoint five members to serve on the board of the authority,authority; with terms staggered asn agreed upon by the town council;

the town council of the Town of Coeburn may appoint five members to serve on the board of the authority, with terms staggered as agreed upon by the town council;

and the City of Chesapeake may appoint nine members, with terms staggered as agreed upon by the city consecutivecouncil; terms.

Anyhowever, personin whothe hasCity served more than one and one-half terms as a member of theChesapeake, twoafter Chesapeake Economic Development Authority as of July 1, 2017, shallno notmember beshall eligibleserve formore reappointmentthan oftwo 2 for another consecutive term.terms.

Any person who has served more than one and one-half terms as a member of the Chesapeake Economic Development Authority as of July 1, 2017, shall not be eligible for reappointment for another consecutive term.

No Chesapeake Economic of 2 Development Authority member shall work for the Authority within one year after serving as a member.