RD523 - Virginia Growth and Opportunity Act, Board, and Fund – December 2016


Executive Summary:
Chapters 778 and 779 of the 2016 Virginia Acts of Assembly amend Title 2.2 of the Code of Virginia adding Chapter 24 to create the Virginia Growth and Opportunity Board and the Virginia Growth and Opportunity Fund (VGOF) within the Virginia Growth and Opportunity Act. Subsection 11 of § 2.2-2486 of the Code requires the Board to submit an Executive Summary by December 1 of each year reporting on the interim activity of the Board. The information provided here summarizes the activities of the Board from July 1, 2016, through December 1, 2016. Due to this being the initial year, the Virginia Growth and Opportunity Board was focused on organizational issues and processes; however, we expect significant activities to take place in the next year.