VirginiaHB15302026 Regular SessionHouseWALLET

Transformer Manufacturing Expansion Grant Fund; created.

Sponsored By: Luke E. Torian (Democratic)

Became Law

Summary

Transformer Manufacturing Expansion Grant Fund. Establishes the Transformer Manufacturing Expansion Grant Fund to provide grant installment awards between July 1, 2027, and July 1, 2041, in an amount not to exceed $5.1 million per fiscal year and in an aggregate amount not to exceed $60 million, to a qualified company that (i) engages in the manufacture of electrical transformers, (ii) executes a memorandum of understanding with the Commonwealth, and (iii) is expected to make a capital investment of at least $301 million and create and maintain at least 1,185 new full-time jobs. This bill is identical to SB 836.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 0 benefits, 1 costs, 2 mixed.

Who qualifies for Henry County grants

A qualified company must manufacture electrical transformers and invest at least $301 million in Henry County. It must create and keep at least 1,185 new full‑time jobs between July 1, 2025 and July 1, 2040, on top of 806 existing Virginia jobs as of July 1, 2025. Each new full‑time job must be at the facility, pay an average wage of at least $73,908 (which can rise under the memorandum of understanding), include standard fringe benefits, and be at least 35 hours a week for 48 weeks, or 1,680 hours a year. Seasonal, temporary, and contractor, vendor, supplier, or similar spin‑off jobs do not count.

Grants for Henry County transformer expansion

The law creates a state fund to pay grants to a qualified transformer manufacturer in Henry County. Grants can be paid each fiscal year from July 1, 2027 through the year starting July 1, 2041, unless extended in the memorandum of understanding. Total payments cannot exceed $60 million, with no more than $5.1 million in any year. Payments are expected in up to 15 annual installments and never for more than 15 straight years; any amounts not earned by then are forfeited. The Secretary certifies awards within 60 days of a complete filing, and checks are issued the next fiscal year only when the General Assembly makes a specific appropriation.

Yearly filings and records to get grants

To get a yearly grant installment, the company must file proof of jobs and capital spending from the prior fiscal year. The filing is due to the Secretary by October 1 each year; mailed filings use the postmark. Missing the deadline defers that year’s payment. Upon request, the company must share records to show compliance, but documents marked confidential and proprietary are treated as such under the memorandum of understanding.

Sponsors & Cosponsors

Sponsor

  • Luke E. Torian

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 288 • No: 2

Senate vote 3/11/2026

Passed Senate Block Vote

Yes: 39 • No: 0

Senate vote 3/11/2026

Reconsideration of Senate passage agreed to by Senate Block Vote

Yes: 40 • No: 0

Senate vote 3/11/2026

Passed Senate Block Vote

Yes: 40 • No: 0

Senate vote 3/10/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 37 • No: 0

Senate vote 3/10/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/9/2026

Reported from Finance and Appropriations

Yes: 14 • No: 0

House vote 3/5/2026

Read third time and passed House Block Vote

Yes: 96 • No: 2

House vote 2/27/2026

Reported from Appropriations

Yes: 22 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0324)

    4/6/2026Governor
  2. Approved by Governor-Chapter 324 (effective 7/1/2026)

    4/6/2026Governor
  3. Fiscal Impact Statement from Department of Planning and Budget (HB1530)

    3/31/2026House
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/31/2026Governor
  5. Enrolled Bill communicated to Governor on March 31, 2026

    3/31/2026House
  6. Signed by Speaker

    3/31/2026House
  7. Bill text as passed House and Senate (HB1530ER)

    3/30/2026House
  8. Enrolled

    3/30/2026House
  9. Signed by President

    3/30/2026Senate
  10. Passed Senate Block Vote (40-Y 0-N 0-A)

    3/11/2026Senate
  11. Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A)

    3/11/2026Senate
  12. Passed Senate Block Vote (39-Y 0-N 0-A)

    3/11/2026Senate
  13. Read third time

    3/11/2026Senate
  14. Passed by for the day Block Vote (Voice Vote)

    3/10/2026Senate
  15. Constitutional reading dispensed Block Vote (on 2nd reading) (37-Y 0-N 0-A)

    3/10/2026Senate
  16. Rules suspended

    3/10/2026Senate
  17. Reported from Finance and Appropriations (14-Y 0-N)

    3/9/2026Senate
  18. Referred to Committee on Finance and Appropriations

    3/6/2026Senate
  19. Constitutional reading dispensed (on 1st reading)

    3/6/2026Senate
  20. Read third time and passed House Block Vote (96-Y 2-N 0-A)

    3/5/2026House
  21. Read second time and engrossed

    3/4/2026House
  22. Read first time

    3/3/2026House
  23. Fiscal Impact statement From DPB (3/2/2026 2:05 pm)

    3/2/2026House
  24. Reported from Appropriations (22-Y 0-N)

    2/27/2026House
  25. Assigned HAPP sub: Commerce Agriculture & Natural Resources

    2/26/2026House

Bill Text

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