VirginiaSB8362026 Regular SessionSenateWALLET

Transformer Manufacturing Expansion Grant Fund; created.

Sponsored By: L. Louise Lucas (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.

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

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

Eligibility and job rules for grants

A company qualifies only if it makes transformers, invests at least $301 million, and creates and keeps at least 1,185 new full‑time jobs. The investment window runs from July 1, 2025 to before July 1, 2040. The facility and investment must be in Henry County. A new full‑time job must be mainly at the facility, pay at least $73,908 with standard benefits, and be 1,680 hours a year or 35 hours a week for at least 48 weeks. Contractor, seasonal, and vendor jobs do not count, and new jobs must be above the company’s 806 Virginia jobs as of July 1, 2025.

Transformer grants, caps, and payments

The law creates a special grant fund for transformer manufacturing. Total grants are capped at $60 million, with no more than $5.1 million each year. Payments come in up to 15 yearly installments. Eligible fiscal years start July 1, 2027 and end July 1, 2041, unless extended in the MOU. Grant money can pay for facility construction or any lawful purpose. After you apply, the Secretary certifies within 60 days, and checks are paid the next fiscal year only if the General Assembly makes a specific appropriation.

Annual grant filing and document checks

To get a yearly payment, the company must file by October 1 with proof of last year’s new jobs and capital spending. If mailed, the postmark controls. Missing the deadline defers that year’s payment. The Secretary can inspect records to check compliance, and properly marked company documents stay confidential and proprietary.

Sponsors & Cosponsors

Sponsor

  • L. Louise Lucas

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 169 • No: 2

House vote 3/12/2026

Passed House

Yes: 94 • No: 2

House vote 3/9/2026

Reported from Appropriations

Yes: 22 • No: 0

Senate vote 3/5/2026

Read third time and passed Senate

Yes: 39 • No: 0

Senate vote 3/4/2026

Engrossed by Senate (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/3/2026

Reported from Finance and Appropriations

Yes: 14 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0325)

    4/6/2026Governor
  2. Approved by Governor-Chapter 325 (effective 7/1/2026)

    4/6/2026Governor
  3. Fiscal Impact Statement from Department of Planning and Budget (SB836)

    3/31/2026Senate
  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

    3/31/2026Senate
  6. Signed by Speaker

    3/31/2026House
  7. Bill text as passed Senate and House (SB836ER)

    3/30/2026Senate
  8. Enrolled

    3/30/2026Senate
  9. Signed by President

    3/30/2026Senate
  10. Passed House (94-Y 2-N 0-A)

    3/12/2026House
  11. Read third time

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

    3/12/2026House
  13. Read second time

    3/11/2026House
  14. Reported from Appropriations (22-Y 0-N)

    3/9/2026House
  15. Referred to Committee on Appropriations

    3/9/2026House
  16. Read first time

    3/9/2026House
  17. Placed on Calendar

    3/9/2026House
  18. Read third time and passed Senate (39-Y 0-N 0-A)

    3/5/2026Senate
  19. Engrossed by Senate (Voice Vote)

    3/4/2026Senate
  20. Read second time

    3/4/2026Senate
  21. Read first time

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

    3/3/2026Senate
  23. Fiscal Impact Statement from Department of Planning and Budget (SB836)

    2/27/2026Senate
  24. Referred to Committee on Finance and Appropriations

    2/24/2026Senate
  25. Presented and ordered printed 26108123D

    2/24/2026Senate

Bill Text

Related Bills

Back to State Legislation