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Peace Progress
Reconvene Session
Wrap Up
Message From Chris

   

The 2011 Regular Session adjourned from business on February 27th following an historic, unanimous passage of amendments to the two-year state budget. Earlier this month at Noon on Wednesday, April 6th, the Reconvene Session assembled legislators to consider the Governor's recommendations on some of the 1599 bills passed earlier in the year. From my House of Delegates perch, the only business for consideration were 83 amendments to House bills and 2 vetoes of House measures. The highest profile veto dealt with a bill carried by Del. Dave Albo establishing the schedule for a 20 year cap on the recovery in actions against health care providers for medical malpractice. The veto was overridden overwhelmingly. In the Senate, the Governor's veto of a measure for mandatory physical education legislation was sustained. In all, Governor McDonnell sent down amendments to 134 bills and vetoed four bills. Generally speaking, Governor McDonnell's amendments received broad bi-partisan support. Statistically, 90% of his legislative amendments and 76% of his budget amendments were approved. The reconvened session highlights concerned legislative endorsement of the Governor's efforts to increase economic development and job creation resources, address retirement system funding, and support of law enforcement among others.

 

Delegates and Senators definitely earn their keep with this one day session as nearly nine hours was spent on the floor acting on the Governor's recommendations. Prior to the start of session, many legislators joined Governor McDonnell, Lieutenant Governor Bolling, and Attorney General Cuccinelli on the steps of the Capitol for a "Call to Prayer" rally. It was a wonderful opportunity to summon strength for the day ahead and put the events of the day in proper perspective. Following these festivities, the session itself started off on a celebratory note by welcoming to the House floor Miss Virginia as well as the VCU men's basketball team for their impressive run to the Final Four. 

 

As it is each Spring, the Reconvened Session or more commonly known as "Veto Session" presented some nuanced positions regarding funding priorities as well as offered the opportunity for the legislature as a collective and co-equal branch of government to react to the Governor. Here is a brief synopsis of a few noteworthy items that were considered:

 

House Supported Governor's Amendments to Strengthen Virginia's Retirement System

 

A major threat to our state's coveted AAA bond rating is $17.6 billion in unfunded liabilities at VRS. During regular session, House Republicans advanced a number of reforms designed to reduce the VRS unfunded liability and address the issue of solvency for the long term; unfortunately, the best proposals advanced by the House were killed in the State Senate.  Since the Governor likewise comprehends the threat that unfunded liabilities pose he proposed a number of amendments designed to strengthen the fiscal integrity of the VRS by reducing the unfunded liabilities.

 

Increase the state's contribution into the VRS by $27.8 million. Governor proposed putting an additional $27.8 million into the VRS in an effort to increase funding for the retirement system.

 

Speed up monthly payments into the Virginia Retirement System to encourage more timely investments. By making monthly contributions instead of quarterly contributions, VRS can invest their funds in a more timely fashion and generate increased returns from the investments.

Create an optional defined contribution plan for interested state employees. Lowering the VRS unfunded liability would be achieved by giving state employees an opportunity to enroll in a defined contribution plan. A defined contribution plan is less costly to the state compared to a defined benefit plan that is currently offered and appeals to younger workers who are more transient and welcome flexibility and portability for their plan. 

 

The State Senate concurred with the first two of these recommendations, but again rejected the proposal for this private sector style defined contribution plan for state employees. Virginians should be pleased that some changes were made to strengthen VRS, but there is still more work to be done.

 

Supporting Public Safety Professionals

 

The Governor sent over two amendments for increased funding for local sheriffs deputies and state troopers. He proposed providing an additional $7.4 million to help local deputies and an additional $3 million to pay for overtime for state troopers. This funding equates to 82 full time troopers on duty at a fraction of the cost of creating new positions. Both amendments passed the General Assembly and have been incorporated into the budget.

 

With the end of this reconvened session and the current special session on redistricting, the General Assembly's business will be soon over for the year. 

 

In order to be eligible for election this year, I need to collect 125 signatures of registered voters in our district. Successful petitioning will enable me to be on the ballot for re-election this later year. If you reside in the 97th District and would like to circulate a petition on my behalf, please contact Julie Coggsdale at 804-730-3737 and she will mail you a petition with detailed instructions. 

 

Upon successful completion of the petition, please sign and fill out the information where indicated. As you circulate this petition please be advised that you may neverleave the petition unattended, e.g., left on the counter at a grocery store, restaurant, etc.

 

Feel free to visit my website at www.chrispeace.com to keep up with current legislative happenings and follow me on Twitter @DelCPeace or on Facebook at Christopher K Peace. Thank you again for reading my newsletter and more especially for the honor of serving as a member of the Virginia legislature.

 

Governor McDonnell Signs Legislative Package Supporting Virginia's Growing Innovation Economy

 

Peace House Bill 1822 signed into law creating Local Defense Production Zone

Legislation is First Part of Governor's 2011 "Opportunity at Work" Agenda

 

Click to watch video of the Governor's "Opportunity at Work" bill signing

 

Central VA- Delegate Christopher K. Peace (R-Hanover) joined Governor Bob McDonnell today at a ceremonial bill signing for one part of his "Opportunity at Work" legislative package, along with other economic development legislation.  The morning event was held at the Virginia Biotechnology Research Park in Richmond.  

 

The package contained 10 measures.  These measures are designed to help attract new businesses to Virginia and help existing businesses grow and expand.  The Governor was joined at today's signing ceremony by Lieutenant Governor Bill Bolling, Secretary of Commerce and Trade Jim Cheng, Senior Economic Advisor Bob Sledd, Secretary of Technology Jim Duffey, Secretary of Education Gerard Robinson and members of the General Assembly.

 

Speaking about the legislation signed today, Governor McDonnell remarked, "The key to turning our economy around and getting Virginians back to work is ensuring that businesses continue to choose the Commonwealth of Virginia to locate, grow and expand.  Our economic success is dependent on good jobs, a well educated workforce and a strong business climate.  The legislation I ceremonially signed today positions us to continue to be the best state in America in which to start or grow a business.   It includes measures that establish research and development tax credits, streamlines the criteria for the Governor's Development Opportunity Fund and creates Local Defense Production Zones that qualify businesses for tax breaks on tools and machinery created for national defense when they locate within those Zones.  In today's global economy, it is essential that we not only stay competitive with our fellow states, but also with nations around the world, and this legislation will help us do just that."

 

Lieutenant Governor Bill Bolling, Virginia's Chief Jobs Creation Officer, said, "I am gratified to stand beside Governor McDonnell as he signs part of the economic development legislation passed during the 2011 General Assembly Session. I applaud the broad, bipartisan support that these initiatives received from members of the General Assembly. These new innovative economic development initiatives will allow us to aggressively build upon the successes of the past and compete for new business in a wide range of emerging industries. They will help ensure that key sectors of Virginia's economy will thrive and grow."

 

HB 1822 Governor Bill Signing
Peace joins Governor, Henrico Supervisors Glover and O'Bannon at economic development bill signing

 

Speaking to the signing of his legislation, Delegate Peace stated, "This bill will serve as a tool for localities to attract defense companies to their county, city or town.  These companies will bring jobs and new industry to the community, while stimulating economic development."  

 

"Opportunity at Work: Virginia's Innovation Economy" Legislation Signed Today

 

SB1326 (Herring)/ HB1447 (Cline) - Creates the Research and Development Tax Credit

·           Creates a Research and Development Tax Credit for start ups and early stage firms in targeted industries, especially those companies accessing research and development services through Virginia colleges and universities to strengthen our business competitiveness

 

SB1379 (Stanley)/ HB1982 (Kilgore) - Adjusts criteria for the Governor's Development Opportunity Fund

·           This initiative establishes a state-wide level of 50 new jobs and $5 million in capital investment, and it reduces the level of required new jobs and capital investment for those localities that have a high unemployment rate and/or high poverty

·           Since 2006, the jobs and capital investment qualification criteria for awards from the Governor's Development Opportunity Fund (GOF) have been primarily based on the size of the locality where the project may locate, with nine tiers of qualification. Population is not an indicator of fiscal stress or need for employment, so this is not the best criteria to use to ensure this incentive can be deployed where needed most

 

SB1485 (Newman and Herring)/ HB2324 (Lingamfelter) - Bolsters the Commonwealth Research and Commercialization Fund to create a comprehensive structure to grow Virginia's innovation economy

·           This program will serve as a catalyst for leveraging the entrepreneur, Virginia higher education research assets and private-sector funding to encourage evolving technologies that create the industries, businesses and jobs of the future

 

 

Other Economic Development Bills

 

SB999 (Stosch/McEachin)/ HB1822 (Peace) - Local Defense Production Zone

·           This legislation creates a separate classification of machinery and tools designed and used directly in manufacturing or processing materials, components, or equipment for national defense

·           Localities are authorized to create Local Defense Production Zones and to tax such machinery and tools at a rate that is less than the rate generally applicable to machinery and tools.

 

SB1408 (Ruff) - Local BPOL tax exemption for unprofitable businesses

·           Allows localities to exempt from the BPOL tax businesses that lose money and are unprofitable during the taxable year, for taxable years beginning on or after January 1, 2012.

 

HB1437 (Cole) - Provides a choice for localities on how to impose BPOL tax

·           Allows localities to decide whether to impose the BPOL tax on a business's gross receipts or its Virginia taxable income.

 

About the Virginia BioTechnology Research Park

 

The Virginia BioTechnology Research Park is currently home to a unique mix of over 60 public and private bioscience companies, research institutes affiliated with the VCU Medical Center, and major state and national medical laboratories. These companies are housed in nine buildings totaling more than 1.1 million square feet of space, representing an employee base that exceeds 2,000. The Park's nationally recognized biosciences business incubation program, the Virginia Biosciences Development Center (VBDC), has successfully graduated more than 40 client companies, including three publicly traded firms.  www.vabiotech.com

 

Contact Me

My office takes the responsibility of serving seriously.  My staff is available during the week to assist you with your concerns; I am also readily available.  I encourage you to contact us.  Please continue to contact me whenever you have concerns or issues of importance to our community and the Commonwealth. 

 

I may be reached at:

 

Capitol Office:
PO Box 406
Richmond, VA 23218
Phone: 804-698-1097

Fax: 804-698-6797

E-mail: delcpeace@house.virginia.gov


 
District Office:

7494 Lee Davis Rd, Suite 16F
PO Box 819
Mechanicsville, VA 23111
Phone: 804-730-3737
Fax: 804-730-5049
E-mail: delcpeace@house.virginia.gov

 
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