VirginiaSB5272026 Regular SessionSenateWALLET

Pharmaceutical Substance Manufacturing Grant Fund; created.

Sponsored By: R. Creigh Deeds (Democratic)

Became Law

Summary

Pharmaceutical Substance Manufacturing Grant Fund. Establishes the Pharmaceutical Substance Manufacturing Grant Fund to provide grant installment awards between July 1, 2026, and July 1, 2045, in an amount not to exceed $34 million per fiscal year and in an aggregate amount not to exceed $191,255,000, to a qualified company that (i) engages in the manufacture of pharmaceutical substances, (ii) executes a memorandum of understanding with the Commonwealth, and (iii) is expected to make a capital investment of at least $4 billion and create and maintain at least 500 new full-time jobs. This bill is identical to HB 1076.

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Bill Overview

Analyzed Economic Effects

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

State grants for Albemarle pharma plant

Virginia creates a nonreverting fund to pay grants to a qualified pharmaceutical maker in Albemarle County. Grants can be paid each year from the fiscal year starting July 1, 2026 through the one starting July 1, 2045. Total grants are capped at $191,255,000, with no more than $34,000,000 in any year. Payments are expected over up to 20 annual installments; anything not earned after 20 years is forfeited. Grant money can be used for construction, development, or any lawful purpose. Payments happen the next fiscal year and only if the General Assembly appropriates money; unspent money stays in the Fund.

Who qualifies for pharma grants

A company qualifies only if it makes pharmaceutical substances at a facility in Albemarle County. It must invest at least $4 billion between July 1, 2025 and July 1, 2045. Spending can include real property, furniture, fixtures, machinery, tools, operating leases, and building construction and up‑fit. It must create and keep at least 500 new full‑time jobs. A new full‑time job pays at least $160,750 a year (subject to escalation) with standard benefits, and works 35 hours a week for at least 48 weeks or 1,680 hours a year. Seasonal, temporary, contractor, vendor, and spin‑off jobs do not count.

Annual filings and state oversight

By October 1 each year, the company must file proof of last year’s capital spending and new full‑time jobs. Late filings defer that year’s grant payment; mailed filings use the postmark date. The Secretary has 60 days after a satisfactory filing to certify the payment amount and may inspect relevant records. Documents properly marked confidential are treated as confidential.

Sponsors & Cosponsors

Sponsor

  • R. Creigh Deeds

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 232 • No: 6

House vote 3/2/2026

Passed House

Yes: 92 • No: 6

House vote 2/25/2026

Reported from Appropriations

Yes: 22 • No: 0

Senate vote 2/13/2026

Read third time and passed Senate Block Vote

Yes: 39 • No: 0

Senate vote 2/12/2026

Engrossed by Senate Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/11/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/11/2026

Constitutional reading dispensed Block Vote (on 1st reading)

Yes: 40 • No: 0

Senate vote 2/10/2026

Reported from Finance and Appropriations

Yes: 14 • No: 0

Senate vote 2/2/2026

Rereferred from Commerce and Labor to Finance and Appropriations

Yes: 11 • No: 0

Senate vote 1/22/2026

Rereferred from Education and Health to Commerce and Labor

Yes: 14 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0809)

    4/13/2026Governor
  2. Approved by Governor-Chapter 809 (effective 7/1/2026)

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

    3/10/2026Governor
  4. Enrolled Bill communicated to Governor on March 10, 2026

    3/10/2026Senate
  5. Fiscal Impact Statement from Department of Planning and Budget (SB527)

    3/5/2026Senate
  6. Bill text as passed Senate and House (SB527ER)

    3/5/2026Senate
  7. Enrolled

    3/5/2026Senate
  8. Signed by President

    3/5/2026Senate
  9. Signed by Speaker

    3/5/2026House
  10. Passed House (92-Y 6-N 0-A)

    3/2/2026House
  11. Read third time

    3/2/2026House
  12. Moved from Uncontested Calendar to Regular Calendar

    3/2/2026House
  13. Read second time

    2/27/2026House
  14. Reported from Appropriations (22-Y 0-N)

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

    2/19/2026House
  16. Referred to Committee on Appropriations

    2/19/2026House
  17. Read first time

    2/19/2026House
  18. Placed on Calendar

    2/19/2026House
  19. Read third time and passed Senate Block Vote (39-Y 0-N 0-A)

    2/13/2026Senate
  20. Engrossed by Senate Block Vote (Voice Vote)

    2/12/2026Senate
  21. Read second time

    2/12/2026Senate
  22. Passed by for the day Block Vote (Voice Vote)

    2/11/2026Senate
  23. Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)

    2/11/2026Senate
  24. Rules suspended

    2/11/2026Senate
  25. Reported from Finance and Appropriations (14-Y 0-N)

    2/10/2026Senate

Bill Text

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