The 2026 Executive Budget Document
Governor Youngkin's Proposed Budget for the 2026-2028 Biennial Budget
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Released on December 17, 2025 
 
Virginia Innovation Partnership Authority [309]
Secretarial Area: Commerce and Trade
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
2020-2022 2021 Chapter 1, 2022 Acts of Assembly $26,100,000 $25,000,000 $51,100,000
2020-2022 2022 Chapter 1, 2022 Acts of Assembly $41,550,000 $0 $41,550,000
2022-2024 2023 Chapter1, 2024 Acts of Assembly $47,786,623 $0 $47,786,623
2022-2024 2024 Chapter1, 2024 Acts of Assembly $42,395,623 $0 $42,395,623
2024-2026 2025 Chapter 725, 2025 Acts of Assembly $132,539,319 $0 $132,539,319
2024-2026 2026 Chapter 725, 2025 Acts of Assembly $42,486,085 $0 $42,486,085
2026-2028 2027 Governor's Proposed Budget $76,786,965 $0 $76,786,965
    Base Budget $42,486,085 $0 $42,486,085
    Addenda (Changes to the Base) $34,300,880 $0 $34,300,880
2026-2028 2028 Governor's Proposed Budget $41,786,965 $0 $41,786,965
    Base Budget $42,486,085 $0 $42,486,085
    Addenda (Changes to the Base) ($699,120) $0 ($699,120)
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2020-2022 2021 Chapter 1, 2022 Acts of Assembly 0.00 0.00 0.00
2020-2022 2022 Chapter 1, 2022 Acts of Assembly 0.00 0.00 0.00
2022-2024 2023 Chapter1, 2024 Acts of Assembly 0.00 0.00 0.00
2022-2024 2024 Chapter1, 2024 Acts of Assembly 0.00 0.00 0.00
2024-2026 2025 Chapter 725, 2025 Acts of Assembly 0.00 0.00 0.00
2024-2026 2026 Chapter 725, 2025 Acts of Assembly 0.00 0.00 0.00
2026-2028 2027 Proposed Positions 0.00 0.00 0.00
    Base Budget 0.00 0.00 0.00
    Addenda (Changes to the Base) 0.00 0.00 0.00
2012-2014 2028 Proposed Positions 0.00 0.00 0.00
    Base Budget 0.00 0.00 0.00
    Addenda (Changes to the Base) 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Provide additional bioscience funding Decision Package
  Appropriates $35.0 million from the general fund for phase two development at the University of Virginia's Institute for Biotechnology.
 
  FY 2027 FY 2028
General Fund $35,000,000 $0
•
Reduce appropriation related to interest earnings Decision Package
  Captures savings based on approximate yearly interest earnings of the Authority.
 
  FY 2027 FY 2028
General Fund ($700,000) ($700,000)
•
Adjust appropriation for centrally funded property insurance premium charges Base Budget Adjustment
  Adjusts appropriation for property insurance premiums billed by the Department of the Treasury’s Division of Risk Management budgeted in Central Appropriations, Item 470 M. of Chapter 725, 2025 Acts of Assembly.
 
  FY 2027 FY 2028
General Fund $687 $687
•
Adjust appropriation for centrally funded liability insurance premium charges Base Budget Adjustment
  Adjusts appropriation for liability insurance premiums billed by the Department of the Treasury’s Division of Risk Management budgeted in Central Appropriations, Item 470 J. of Chapter 725, 2025 Acts of Assembly.
 
  FY 2027 FY 2028
General Fund $399 $399
•
Adjust appropriation for centrally funded changes to agency information technology costs Base Budget Adjustment
  Adjusts appropriation for changes to information technology and telecommunications usage budgeted in Central Appropriations, Item 470 C. of Chapter 725, 2025 Acts of Assembly.
 
  FY 2027 FY 2028
General Fund ($242) ($242)
•
Adjust appropriation for centrally funded changes to Cardinal Financials System charges Base Budget Adjustment
  Adjusts appropriation for changes to Cardinal Financials System internal service fund charges budgeted in Central Appropriations, Item 470 E. of Chapter 725, 2025 Acts of Assembly.
 
  FY 2027 FY 2028
General Fund $50 $50
•
Adjust appropriation for centrally funded changes to Performance Budgeting system charges Base Budget Adjustment
  Adjusts appropriation for changes to Performance Budgeting system internal service fund charges budgeted in Central Appropriations, Item 470 G. of Chapter 725, 2025 Acts of Assembly.
 
  FY 2027 FY 2028
General Fund ($14) ($14)
•
Coordinate artificial intelligence development among institutions of higher education Decision Package
  Authorizes the Authority to utilize existing appropriation to develop the Virginia Artificial Intelligence Institute and a statewide innovation ecosystem to coordinate artificial intelligence activities in collaboration with institutions of higher education and public-private stakeholders.


pdocagy2014 - Executive Budget Document Agency Details - 01-01-2026 15:49:37