How SB 786 changes current law

Compared against the Code of Virginia as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the Code of Virginia: 58.1-439.12.

• 58.1-439.12

  A.

  Inserts “A.”.

• 58.1-439.12

  For purposes of this section:

  Inserts “For purposes of this section:”.

• 58.1-439.12

  "Capital investment" means an expenditure by or on behalf of a qualified company on or after July 1, 202

  Inserts “"Capital investment" means an expenditure by or on behalf of a qualified company on or after July 1, 202”.

• 58.1-439.12

  6

  Inserts “6”.

• 58.1-439.12

  , in real property, tangible personal property, or both,

  Inserts “, in real property, tangible personal property, or both,”.

• 58.1-439.12

  at a facility in

  Inserts “at a facility in”.

• 58.1-439.12

  Virginia that is properly chargeable to a capital account. The purchase or lease of furniture, fixtures, business personal property, machinery

  Inserts “Virginia that is properly chargeable to a capital account. The purchase or lease of furniture, fixtures, business personal property, machinery”.

• 58.1-439.12

  ,

  Inserts “,”.

• 58.1-439.12

  and tools, including under any operating lease, and expected building construction and upfit by or on behalf of a qualified company shall qualify as capital investment.

  Inserts “and tools, including under any operating lease, and expected building construction and upfit by or on behalf of a qualified company shall qualify as capital investment.”.

• 58.1-439.12

  "

  Inserts “"”.

• 58.1-439.12

  Child

  Inserts “Child”.

• 58.1-439.12

  care services expenditures

  Inserts “care services expenditures”.

• 58.1-439.12

  "

  Inserts “"”.

• 58.1-439.12

  means the

  Inserts “means the”.

• 58.1-439.12

  amount of

  Inserts “amount of”.

• 58.1-439.12

  new, annual

  Inserts “new, annual”.

• 58.1-439.12

  qualified company

  Inserts “qualified company”.

• 58.1-439.12

  expenditures on child

  Inserts “expenditures on child”.

• 58.1-439.12

  care services whether internal or provided by a third party, including coverage for

  Inserts “care services whether internal or provided by a third party, including coverage for”.

• 58.1-439.12

  a

  Inserts “a”.

• 58.1-439.12

  full or partial discount of employee rates, minus any revenues received by the qualified company through a third-party operator, including rent paid to the qualified company by the child care provider, or employees.

  Inserts “full or partial discount of employee rates, minus any revenues received by the qualified company through a third-party operator, including rent paid to the qualified company by the child care provider, or employees.”.

• 58.1-439.12

  "Eligible project" means a project (i) in Virginia by a qualified company in the semiconductor manufacturing and related equipment and material supplies sector for which a memorandum

  Inserts “"Eligible project" means a project (i) in Virginia by a qualified company in the semiconductor manufacturing and related equipment and material supplies sector for which a memorandum”.

• 58.1-439.12

  of

  Inserts “of”.

• 58.1-439.12

  understanding has been entered into

  Inserts “understanding has been entered into”.

• 58.1-439.12

  ;

  Inserts “;”.

• 58.1-439.12

  (ii) that includes sustainability measures to mitigate the impact of greenhouse gas emissions over the project's lifetime

  Inserts “(ii) that includes sustainability measures to mitigate the impact of greenhouse gas emissions over the project's lifetime”.

• 58.1-439.12

  and measures to support workforce development, child

  Inserts “and measures to support workforce development, child”.

• 58.1-439.12

  care, housing, and education in the locality in which the facility is located

  Inserts “care, housing, and education in the locality in which the facility is located”.

• 58.1-439.12

  ;

  Inserts “;”.

• 58.1-439.12

  (iii)

  Inserts “(iii)”.

• 58.1-439.12

  that

  Inserts “that”.

• 58.1-439.12

  provides project construction salaries that are no less than the

  Inserts “provides project construction salaries that are no less than the”.

• 58.1-439.12

  prevailing average wage in the locality in which the facility is located

  Inserts “prevailing average wage in the locality in which the facility is located”.

• 58.1-439.12

  ;

  Inserts “;”.

• 58.1-439.12

  (iv)

  Inserts “(iv)”.

• 58.1-439.12

  that

  Inserts “that”.

• 58.1-439.12

  include

  Inserts “include”.

• 58.1-439.12

  s

  Inserts “s”.

• 58.1-439.12

  commitments to worker and community investment, which shall include training and education benefits paid by the

  Inserts “commitments to worker and community investment, which shall include training and education benefits paid by the”.

• 58.1-439.12

  qualified

  Inserts “qualified”.