Virginia Port Authority (407)
| Request Title | Support the Virginia Port Volume Increase Grant Program |
| Biennium | 2024-2026 |
| Budget Round | Initial Bill |
| Category | New general fund spending initiatives |
| Region | Hampton Roads |
Description
|
Provides general fund support for the Virginia Port Volume Increase Grant Program and Fund, established by Section 62.1-132.3:5, Code of Virginia. This grant program replaces the existing Virginia Port Volume Increase tax credit that expires January 1, 2025. |
Funding Summary
| Object Type | FY 2024 | FY 2025 | |
| General Fund Dollars | $500,000 | $1,000,000 | |
| Nongeneral Fund Dollars | $0 | $0 | |
| General Fund Positions | 0.00 | 0.00 | |
| Nongeneral Positions | 0.00 | 0.00 | |
| General Fund Transfers | $0 | $0 | |
| General Fund Revenue | $0 | $0 | |
| Layoffs | $0 | $0 | |
| Additions to Balance | $0 | $0 |
Funding Details
| By Program | Program Code | Program Title | FY 2024 | FY 2025 |
| 534 | Economic Development Services | $500,000 | $1,000,000 | |
| By Fund | Fund Code | Fund Title | FY 2024 | FY 2025 |
| 01000 | General Fund | $500,000 | $1,000,000 |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2024 | FY 2025 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 18:23:55
