RD469 - Annual Report on the Activities of the Virginia Spirits Board and the Use of Moneys in the Virginia Spirits Promotion Fund – October 1, 2022

Executive Summary:

During the fiscal year ending June 30, 2022, the Virginia Spirits Board (Board) met seven times, with a focus on establishing an ongoing funding mechanism for the Virginia Spirits Promotion Fund (Fund). The Board worked closely with industry and successfully achieved consensus on what eventually became Chapters 84 and 85 of the 2022 Acts of Assembly, which establishes that 20 percent of the 20 percent tax levied on spirits be deposited into the Fund. Because there was no money in the Fund during fiscal year (FY) 2022, no funds were expended during this period. The 2022 Appropriation Act also included an appropriation from the general fund in the amount of $952,375 for use during FY 2023. The Virginia Spirits Board and VDACS Office of Procurement are currently in the process of creating a Request for Proposals for marketing services to promote the Virginia Spirits industry in FY 2023.