SB 403 VA

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Became Law

Power Transformer Manufacturing Grant Fund. Establishes the Power Transformer Manufacturing Grant Fund to provide grant installment awards between July 1, 2026, and July 1, 2035, in an amount not to exceed $4.6 million per fiscal year and in an aggregate amount not to exceed $29.4 million, to a qualified company that (i) engages in the manufacture of power transformers, (ii) executes a memorandum of understanding with the Commonwealth, and (iii) is expected to make a capital investment of at least $457,157,000 and create and maintain at least 825 new full-time jobs. This bill is identical to HB 799.

• L. Louise Lucas Democratic · primary

1. Jan 13, 2026 Prefiled and ordered printed; Offered 01-14-2026 26102902D · upper
2. Jan 13, 2026 Referred to Committee on Finance and Appropriations · upper
3. Jan 23, 2026 Fiscal Impact Statement from Department of Planning and Budget (SB403) · upper
4. Jan 27, 2026 Reported from Finance and Appropriations (14-Y 0-N) · upper
5. Jan 28, 2026 Rules suspended · upper
6. Jan 28, 2026 Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A) · upper
7. Jan 28, 2026 Passed by for the day Block Vote (Voice Vote) · upper
8. Jan 28, 2026 Passed by for the day · upper
9. Jan 29, 2026 Read second time · upper
10. Jan 29, 2026 Engrossed by Senate (Voice Vote) · upper
11. Jan 30, 2026 Read third time and passed Senate (38-Y 0-N 0-A) · upper
12. Feb 4, 2026 Placed on Calendar · lower
13. Feb 4, 2026 Read first time · lower
14. Feb 4, 2026 Referred to Committee on Appropriations · lower
15. Feb 18, 2026 Assigned HAPP sub: Commerce Agriculture & Natural Resources · lower
16. Feb 20, 2026 Reported from Appropriations (22-Y 0-N) · lower
17. Feb 24, 2026 Read second time · lower
18. Feb 25, 2026 Moved from Uncontested Calendar to Regular Calendar · lower
19. Feb 25, 2026 Read third time · lower
20. Feb 25, 2026 Passed House (92-Y 4-N 0-A) · lower
21. Feb 27, 2026 Enrolled · upper
22. Feb 27, 2026 Bill text as passed Senate and House (SB403ER) · upper
23. Feb 27, 2026 Fiscal Impact Statement from Department of Planning and Budget (SB403) · upper
24. Feb 27, 2026 Signed by Speaker · lower
25. Feb 27, 2026 Signed by President · upper
26. Mar 10, 2026 Enrolled Bill communicated to Governor on March 10, 2026 · upper
27. Mar 10, 2026 Governor's Action Deadline 11:59 p.m., April 13, 2026 · executive
28. Apr 13, 2026 Approved by Governor-Chapter 821 (effective 7/1/2026) · executive

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled · PDF
• Enrolled · HTML
• Introduced · PDF
• Introduced · HTML