{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/3.2-306.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/3.2-306.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/3.2-306.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/3.2-306.html"}],"law_id":357481,"edition_id":2,"section_id":357481,"structure_id":51145,"section_number":"3.2-306","catch_line":"Contractual obligations of entities receiving grants or loans from the Fund","history":"2012, cc. 466, 622.","full_text":"A\n\nNotwithstanding any provision in this chapter or in the guidelines established pursuant to § 3.2-305, each political subdivision that receives a grant or loan from the Fund shall enter into a contract with each business beneficiary of moneys from the Fund. A person or entity shall be a business beneficiary of funds from the Fund if grant or loan moneys awarded from the Fund by the Governor are paid to a political subdivision and (i) subsequently distributed by the political subdivision to the person or entity or (ii) used by the political subdivision for the benefit of the person or entity but never distributed to the person or entity.\n\nB\n\nThe contract between the political subdivision and the business beneficiary shall provide in detail (i) the fair market value of all funds that the Commonwealth has committed to provide, (ii) the fair market value of all matching funds (or in-kind match) that the political subdivision has agreed to provide, (iii) how funds committed by the Commonwealth, including funds from the Fund committed by the Governor, and funds that the political subdivision has agreed to provide are to be spent, (iv) the minimum private investment to be made and the number of new jobs projected to be created by the business beneficiary, (v) the minimum percentage of Virginia-grown or produced agricultural or forestal products to be purchased by the business beneficiary, (vi) the average wage (excluding fringe benefits) projected to be paid in the new jobs, (vii) the prevailing average wage, and (viii) the formula, means, or processes agreed to be used for measuring compliance with the minimum private investment and new jobs projections, including consideration of any layoffs instituted by the business beneficiary over the course of the period covered by the contract.\n\nC\n\nThe contract shall state the date by which the agreed-upon private investment and minimum purchases of Virginia-grown agricultural and forestal products shall be met by the business beneficiary of moneys from the Fund and may provide for the political subdivision to grant up to a 15-month extension of such date if deemed appropriate by the political subdivision subsequent to the execution of the contract. Any extension of such date granted by the political subdivision shall be in writing and promptly delivered to the business beneficiary, and the political subdivision shall simultaneously provide a copy of the extension to the Secretary of Agriculture and Forestry.\n\nD\n\nThe contract shall provide that if the private investment and minimum purchase requirements are not met by the expiration of the date stipulated in the contract, including any extension granted by the political subdivision, the business beneficiary shall be liable to the political subdivision for repayment of a portion of the funds provided under the contract. The contract shall include a formula for purposes of determining the portion of such funds to be repaid. The formula shall, in part, be based upon the fair market value of all funds that have been provided by the Commonwealth and the political subdivision and the extent to which the business beneficiary has met the private investment and minimum purchase requirements. Any such funds repaid to the political subdivision that relate to the award from the Fund shall promptly be paid by the political subdivision to the Commonwealth by payment remitted to the State Treasurer. Upon receipt by the State Treasurer of such payment, the Comptroller shall deposit the repaid funds into the Fund.\n\t\t\tThe contract shall be amended to reflect changes in the funds committed by the Commonwealth or agreed to be provided by the political subdivision.\n\n","order_by":null,"text":{"0":{"id":1330147,"text":"Notwithstanding any provision in this chapter or in the guidelines established pursuant to § 3.2-305, each political subdivision that receives a grant or loan from the Fund shall enter into a contract with each business beneficiary of moneys from the Fund. A person or entity shall be a business beneficiary of funds from the Fund if grant or loan moneys awarded from the Fund by the Governor are paid to a political subdivision and (i) subsequently distributed by the political subdivision to the person or entity or (ii) used by the political subdivision for the benefit of the person or entity but never distributed to the person or entity.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1330148,"text":"The contract between the political subdivision and the business beneficiary shall provide in detail (i) the fair market value of all funds that the Commonwealth has committed to provide, (ii) the fair market value of all matching funds (or in-kind match) that the political subdivision has agreed to provide, (iii) how funds committed by the Commonwealth, including funds from the Fund committed by the Governor, and funds that the political subdivision has agreed to provide are to be spent, (iv) the minimum private investment to be made and the number of new jobs projected to be created by the business beneficiary, (v) the minimum percentage of Virginia-grown or produced agricultural or forestal products to be purchased by the business beneficiary, (vi) the average wage (excluding fringe benefits) projected to be paid in the new jobs, (vii) the prevailing average wage, and (viii) the formula, means, or processes agreed to be used for measuring compliance with the minimum private investment and new jobs projections, including consideration of any layoffs instituted by the business beneficiary over the course of the period covered by the contract.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":1330149,"text":"The contract shall state the date by which the agreed-upon private investment and minimum purchases of Virginia-grown agricultural and forestal products shall be met by the business beneficiary of moneys from the Fund and may provide for the political subdivision to grant up to a 15-month extension of such date if deemed appropriate by the political subdivision subsequent to the execution of the contract. Any extension of such date granted by the political subdivision shall be in writing and promptly delivered to the business beneficiary, and the political subdivision shall simultaneously provide a copy of the extension to the Secretary of Agriculture and Forestry.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":1330150,"text":"The contract shall provide that if the private investment and minimum purchase requirements are not met by the expiration of the date stipulated in the contract, including any extension granted by the political subdivision, the business beneficiary shall be liable to the political subdivision for repayment of a portion of the funds provided under the contract. The contract shall include a formula for purposes of determining the portion of such funds to be repaid. The formula shall, in part, be based upon the fair market value of all funds that have been provided by the Commonwealth and the political subdivision and the extent to which the business beneficiary has met the private investment and minimum purchase requirements. Any such funds repaid to the political subdivision that relate to the award from the Fund shall promptly be paid by the political subdivision to the Commonwealth by payment remitted to the State Treasurer. Upon receipt by the State Treasurer of such payment, the Comptroller shall deposit the repaid funds into the Fund.\n\t\t\tThe contract shall be amended to reflect changes in the funds committed by the Commonwealth or agreed to be provided by the political subdivision.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":51145,"edition_id":2,"name":"Governor's Agriculture and Forestry Industries Development Fund","identifier":"3.1","label":"chapter","depth":3,"order_by":4,"parent_id":51104,"metadata":{"child_laws":10,"child_structures":0},"date_created":"2026-08-02 02:38:04","date_modified":"2026-08-02 12:27:28","permalink":{"id":1421103,"object_type":"structure","relational_id":51145,"identifier":"3.1","token":"3.2\/I\/3.1","url":"\/3.2\/I\/3.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51104,"edition_id":2,"name":"General Provisions; Protection and Promotion of Agriculture","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":51103,"metadata":{"child_laws":95,"child_structures":18},"date_created":"2026-08-02 02:37:33","date_modified":"2026-08-02 12:27:27","permalink":{"id":1420943,"object_type":"structure","relational_id":51104,"identifier":"I","token":"3.2\/I","url":"\/3.2\/I\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51103,"edition_id":2,"name":"Agriculture, Animal Care, and Food","identifier":"3.2","label":"title","depth":1,"order_by":5,"parent_id":null,"metadata":{"child_laws":1194,"child_structures":151},"date_created":"2026-08-02 02:37:33","date_modified":"2026-08-02 12:27:27","permalink":{"id":1420941,"object_type":"structure","relational_id":51103,"identifier":"3.2","token":"3.2","url":"\/3.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":357478,"structure_id":51145,"section_number":"3.2-303","catch_line":"Definitions","url":"\/3.2-303\/","token":"3.2\/I\/3.1\/3.2-303","metadata":false},{"id":357479,"structure_id":51145,"section_number":"3.2-304","catch_line":"Governor's Agriculture and Forestry Industries Development Fund established; purpose; use of funds","url":"\/3.2-304\/","token":"3.2\/I\/3.1\/3.2-304","metadata":false},{"id":357480,"structure_id":51145,"section_number":"3.2-305","catch_line":"Guidelines and criteria for awarding grants from Fund","url":"\/3.2-305\/","token":"3.2\/I\/3.1\/3.2-305","metadata":false},{"id":357481,"structure_id":51145,"section_number":"3.2-306","catch_line":"Contractual obligations of entities receiving grants or loans from the Fund","url":"\/3.2-306\/","token":"3.2\/I\/3.1\/3.2-306","metadata":false},{"id":357482,"structure_id":51145,"section_number":"3.2-307","catch_line":"Copy of proposed contract to be submitted to the Attorney General","url":"\/3.2-307\/","token":"3.2\/I\/3.1\/3.2-307","metadata":false},{"id":357483,"structure_id":51145,"section_number":"3.2-308","catch_line":"Disposition of award by locality","url":"\/3.2-308\/","token":"3.2\/I\/3.1\/3.2-308","metadata":false},{"id":357484,"structure_id":51145,"section_number":"3.2-309","catch_line":"Report submitted to chairmen of legislative committees","url":"\/3.2-309\/","token":"3.2\/I\/3.1\/3.2-309","metadata":false},{"id":357485,"structure_id":51145,"section_number":"3.2-310","catch_line":"Agriculture and Forestry Industries Development Planning Grant Program","url":"\/3.2-310\/","token":"3.2\/I\/3.1\/3.2-310","metadata":false},{"id":357496,"structure_id":51145,"section_number":"3.2-311","catch_line":"Local Food and Farming Infrastructure Grant Program","url":"\/3.2-311\/","token":"3.2\/I\/3.1\/3.2-311","metadata":false},{"id":357507,"structure_id":51145,"section_number":"3.2-312","catch_line":"Blue Catfish Processing, Flash Freezing, and Infrastructure Grant Program","url":"\/3.2-312\/","token":"3.2\/I\/3.1\/3.2-312","metadata":false}],"previous_section":{"id":357480,"structure_id":51145,"section_number":"3.2-305","catch_line":"Guidelines and criteria for awarding grants from Fund","url":"\/3.2-305\/","token":"3.2\/I\/3.1\/3.2-305","metadata":false},"next_section":{"id":357482,"structure_id":51145,"section_number":"3.2-307","catch_line":"Copy of proposed contract to be submitted to the Attorney General","url":"\/3.2-307\/","token":"3.2\/I\/3.1\/3.2-307","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/3.2-306\/","history_text":"

This law was first created in 2012. The record of its establishment is cataloged in chapters 466<\/a> and 622<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":357480,"section_number":"3.2-305","catch_line":"Guidelines and criteria for awarding grants from Fund","order_by":null,"url":"\/3.2-305\/"}],"permalink":{"id":1421117,"object_type":"law","relational_id":357481,"identifier":"3.2-306","token":"3.2\/I\/3.1\/3.2-306","url":"\/3.2-306\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/3.2-306\/","token":"3.2\/I\/3.1\/3.2-306","dublin_core":{"Title":"Contractual obligations of entities receiving grants or loans from the Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 3.2-306","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Notwithstanding any provision in this chapter or in the guidelines established pursuant to § 3.2-305<\/a>, each political subdivision that receives a grant or loan from the Fund<\/span> shall enter into a contract<\/span> with each business beneficiary of moneys from the Fund<\/span>. A person or entity shall be a business beneficiary of funds<\/span> from the Fund<\/span> if grant or loan moneys awarded from the Fund<\/span> by the Governor are paid to a political subdivision and (i) subsequently distributed by the political subdivision to the person or entity or (ii) used by the political subdivision for the benefit of the person or entity but never distributed to the person or entity. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The contract<\/span> between the political subdivision and the business beneficiary shall provide in detail (i) the fair market value of all funds<\/span> that the Commonwealth has committed to provide, (ii) the fair market value of all matching funds<\/span> (or in-kind match) that the political subdivision has agreed to provide, (iii) how funds<\/span> committed by the Commonwealth, including funds<\/span> from the Fund<\/span> committed by the Governor, and funds<\/span> that the political subdivision has agreed to provide are to be spent, (iv) the minimum private investment<\/span> to be made and the number of new jobs<\/span> projected to be created by the business beneficiary, (v) the minimum percentage of Virginia-grown or produced agricultural or forestal products<\/span> to be purchased by the business beneficiary, (vi) the average wage (excluding fringe benefits) projected to be paid in the new jobs<\/span>, (vii) the prevailing average wage<\/span>, and (viii) the formula, means, or processes agreed to be used for measuring compliance with the minimum private investment<\/span> and new jobs<\/span> projections, including consideration of any layoffs instituted by the business beneficiary over the course of the period covered by the contract<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The contract<\/span> shall state the date by which the agreed-upon private investment<\/span> and minimum purchases of Virginia-grown agricultural and forestal products<\/span> shall be met by the business beneficiary of moneys from the Fund<\/span> and may provide for the political subdivision to grant up to a 15-month extension of such date if deemed appropriate by the political subdivision subsequent to the execution of the contract<\/span>. Any extension of such date granted by the political subdivision shall be in writing and promptly delivered to the business beneficiary, and the political subdivision shall simultaneously provide a copy of the extension to the Secretary of Agriculture and Forestry. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The contract<\/span> shall provide that if the private investment<\/span> and minimum purchase requirements are not met by the expiration of the date stipulated in the contract<\/span>, including any extension granted by the political subdivision, the business beneficiary shall be liable to the political subdivision for repayment of a portion of the funds<\/span> provided under the contract<\/span>. The contract<\/span> shall include a formula for purposes of determining the portion of such funds<\/span> to be repaid. The formula shall, in part, be based upon the fair market value of all funds<\/span> that have been provided by the Commonwealth and the political subdivision and the extent to which the business beneficiary has met the private investment<\/span> and minimum purchase requirements. Any such funds<\/span> repaid to the political subdivision that relate to the award from the Fund<\/span> shall promptly be paid by the political subdivision to the Commonwealth by payment remitted to the State Treasurer. Upon receipt by the State Treasurer of such payment, the Comptroller shall deposit the repaid funds<\/span> into the Fund<\/span>.\n\t\t\tThe contract<\/span> shall be amended to reflect changes in the funds<\/span> committed by the Commonwealth or agreed to be provided by the political subdivision. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTRACTUAL OBLIGATIONS OF ENTITIES RECEIVING GRANTS OR LOANS FROM THE FUND (\u00a7\n3.2-306)\n\nA. Notwithstanding any provision in this chapter or in the guidelines\nestablished pursuant to § 3.2-305, each political subdivision that receives\na grant or loan from the Fund shall enter into a contract with each business\nbeneficiary of moneys from the Fund. A person or entity shall be a business\nbeneficiary of funds from the Fund if grant or loan moneys awarded from the Fund\nby the Governor are paid to a political subdivision and (i) subsequently\ndistributed by the political subdivision to the person or entity or (ii) used by\nthe political subdivision for the benefit of the person or entity but never\ndistributed to the person or entity.\n\nB. The contract between the political subdivision and the business beneficiary\nshall provide in detail (i) the fair market value of all funds that the\nCommonwealth has committed to provide, (ii) the fair market value of all\nmatching funds (or in-kind match) that the political subdivision has agreed to\nprovide, (iii) how funds committed by the Commonwealth, including funds from the\nFund committed by the Governor, and funds that the political subdivision has\nagreed to provide are to be spent, (iv) the minimum private investment to be\nmade and the number of new jobs projected to be created by the business\nbeneficiary, (v) the minimum percentage of Virginia-grown or produced\nagricultural or forestal products to be purchased by the business beneficiary,\n(vi) the average wage (excluding fringe benefits) projected to be paid in the\nnew jobs, (vii) the prevailing average wage, and (viii) the formula, means, or\nprocesses agreed to be used for measuring compliance with the minimum private\ninvestment and new jobs projections, including consideration of any layoffs\ninstituted by the business beneficiary over the course of the period covered by\nthe contract.\n\nC. The contract shall state the date by which the agreed-upon private investment\nand minimum purchases of Virginia-grown agricultural and forestal products shall\nbe met by the business beneficiary of moneys from the Fund and may provide for\nthe political subdivision to grant up to a 15-month extension of such date if\ndeemed appropriate by the political subdivision subsequent to the execution of\nthe contract. Any extension of such date granted by the political subdivision\nshall be in writing and promptly delivered to the business beneficiary, and the\npolitical subdivision shall simultaneously provide a copy of the extension to\nthe Secretary of Agriculture and Forestry.\n\nD. The contract shall provide that if the private investment and minimum\npurchase requirements are not met by the expiration of the date stipulated in\nthe contract, including any extension granted by the political subdivision, the\nbusiness beneficiary shall be liable to the political subdivision for repayment\nof a portion of the funds provided under the contract. The contract shall\ninclude a formula for purposes of determining the portion of such funds to be\nrepaid. The formula shall, in part, be based upon the fair market value of all\nfunds that have been provided by the Commonwealth and the political subdivision\nand the extent to which the business beneficiary has met the private investment\nand minimum purchase requirements. Any such funds repaid to the political\nsubdivision that relate to the award from the Fund shall promptly be paid by the\npolitical subdivision to the Commonwealth by payment remitted to the State\nTreasurer. Upon receipt by the State Treasurer of such payment, the Comptroller\nshall deposit the repaid funds into the Fund.\n\t\t\tThe contract shall be amended to reflect changes in the funds committed by\nthe Commonwealth or agreed to be provided by the political subdivision.\n\nHISTORY: 2012, cc. 466, 622.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}