RD240 - Commonwealth Health Research Board (CHRB) Annual Report for FY 2015/2016 for the period July 1, 2015 to June 30, 2016
• The Commonwealth Health Research Board [CHRB] was created by Virginia Code § 23-278 to provide financial support for research efforts having the potential of maximizing human health benefits for the citizens of the Commonwealth.
• This initiative of the General Assembly and the Governor used the proceeds from the sale of Trigon stock to create the framework and fiscal resources for a research grant program.
• The funds resulted from the stock and cash distribution to the Commonwealth of Virginia pursuant to the conversion of Trigon Blue Cross and Blue Shield from a mutual insurance company to a stock corporation.
• Income from the funds is used to make grant awards.