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GA Adjustment
Economic Development Incentive Payments (312)
Request Title Micron Payment Moved to FY 2027 (101 #1c)
Biennium 2024-2026
Budget Round Amended Bill
Half Sheet Number 101 #1c
Description

This amendment removes $1.4 million from the general fund the second year, reflecting the first anticipated incentive payment for Micron. House Bill 2358 and Senate Bill 1208 of the 2025 General Assembly set the parameters for the payment of custom performance grants to the company in exchange for the creation of 340 jobs and invest $2.2 billion and require the first payment to the company in fiscal year 2027. This amendment also addresses a technical update to language included in the introduced budget to reimburse Wythe County for improvements made for Progress Park.

Funding Details
By Program Program Code Program Title FY 2024 FY 2025
  534 Economic Development Services $0 ($1,400,000)
By Fund Fund Code Fund Title FY 2024 FY 2025
  01000 General Fund $0 ($1,400,000)
Authorized Position Details
By Program Program Code Program Title FY 2024 FY 2025


p3_opview - Official Enacted Budget View Operating Bullet Details - 06-21-2025 05:55:44