Higher Education Research Initiative [989]
Secretarial Area: Education
Operating Budget Summary
This table shows the Governor's proposed budget for the next two years and the agency's official budget for the previous six years.
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Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly $3,510,000 $0 $3,510,000
2010-2012 2012 Chapter 2, 2012 Acts of Assembly $510,000 $0 $510,000
2016-2018 2017 Chapter 780, 2016 Appropriation Act $8,000,000 $0 $8,000,000
2016-2018 2017 Governor's Amendments $20,000,000 $0 $20,000,000
2016-2018 2017 General Assembly Adjustments ($12,000,000) $0 ($12,000,000)
2016-2018 2018 Chapter 780, 2016 Appropriation Act $14,000,000 $0 $14,000,000
2016-2018 2018 Governor's Amendments $20,000,000 $0 $20,000,000
2016-2018 2018 General Assembly Adjustments ($6,000,000) $0 ($6,000,000)
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly 0.00 0.00 0.00
2010-2012 2012 Chapter 2, 2012 Acts of Assembly 0.00 0.00 0.00
2016-2018 2017 Chapter 780, 2016 Appropriation Act 0.00 0.00 0.00
2016-2018 2017 Governor's Amendments 0.00 0.00 0.00
2016-2018 2017 General Assembly Adjustments 0.00 0.00 0.00
2016-2018 2018 Chapter 780, 2016 Appropriation Act 0.00 0.00 0.00
2016-2018 2018 Governor's Amendments 0.00 0.00 0.00
2016-2018 2018 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
Encourage the commercialization of research Decision Package
  Provides one-time incentive packages to high performing researchers who successfully commercialize their research, and establishes centers of excellence where researchers can collaborate and receive support in commercializing their research. This initiative's goal is to develop spin off companies from research being conducted in the Commonwealth that will accelerate the growth and strength of Virginia's cyber security, bioscience, and other industries.
 
  FY FY
General Fund $20,000,000 $20,000,000
Adjust Support for Research Commercialization and Implement HB 1343 General Assembly Adjustment
  This amendment retains $22.0 million from the general fund over the biennium for the implementation of HB 1343 of the 2016 General Assembly including incentive packages for high performing researchers in relation to the commercialization of research. The amendment also references the process that will be used to allocate these funds as well as the bond proceeds that will be used to fund laboratory renovations and equipment. The Virginia Research Investment Fund and the Virginia Research Investment Committee (V-RIC) are created in House Bill 1343.
 
  FY FY
General Fund ($12,000,000) ($6,000,000)


p3_bullets - Official Enacted Budget - 06-07-2025 13:44:07