§ 2.2-2740. Powers and duties of the Corporation
The Corporation shall have the power and duty to: 1. Periodically assess (i) product and services promotion activities with the Virginia Economic Development Partnership Authority and the Department of Agriculture and Consumer Services and (ii) suggestions from relevant industries on ways to increase exports of Virginia products; 2. Ensure the preparation and execution of effective […]
§ 2.2-2741. Grants from the Commonwealth
The Commonwealth may make grants of money or property to the Corporation for the purpose of enabling it to carry out its purposes and for the exercise of its duties. This section shall not be construed to limit any other power the Commonwealth may have to make grants to the Corporation. 2016, c. 749.
§ 2.2-2742. Exemption from taxation
The Corporation shall be performing an essential governmental function in the exercise of the powers conferred upon it by this article. Accordingly, the Corporation shall not be required to pay any taxes or assessments upon any project or any property or upon any operations of the Corporation or the income therefrom. Agents, lessees, sublessees, or […]
§ 2.2-2743. Exemptions from personnel and procurement procedures
The provisions of the Virginia Public Procurement Act (§ 2.2-4300 et seq.) and the Virginia Personnel Act (§ 2.2-2900 et seq.) shall not apply to the Corporation. 2016, c. 749.
§ 2.2-2739. Appointment of Chief Executive Officer
The Governor, in consultation with the Board, shall appoint a Chief Executive Officer of the Corporation. The Chief Executive Officer shall perform the duties and exercise the functions the Corporation assigns to him. He shall receive a salary for his services to be paid by the Corporation subject to the approval of the Governor. The […]
§ 2.2-2735. Membership; qualifications; terms; vacancies; officers; compensation
A. The Foundation shall be administered by a board of trustees, consisting of 23 members as follows: two members of the Senate to be appointed by the Senate Committee on Rules; three members of the House of Delegates to be appointed by the Speaker of the House of Delegates in accordance with the principles of […]
§ 2.2-2736. Powers and duties of the Foundation
A. The Foundation shall have the power and duty to: 1. Accept, execute, and administer any trust in which it may have an interest under the terms of the instrument creating the trust; 2. Establish and administer agreements with public or private agencies in order to achieve its goals; 3. Rent, lease, including the execution […]
§ 2.2-2737. Staffing
The Department of Housing and Community Development shall provide additional staff support to the Foundation. All agencies of the Commonwealth shall provide assistance to the Foundation, upon request. 2011, cc. 521, 548.
§ 2.2-2738. Virginia International Trade Corporation; purpose; membership; meetings
A. The Virginia International Trade Corporation (the Corporation) is established in the executive branch of state government. The purpose of the Corporation shall be to promote international trade in the Commonwealth. B. The Corporation shall be governed by a board of directors (the Board) composed of 16 members as follows: the Secretaries of Agriculture and […]
§ 2.2-2723. Powers and duties of the Board of Trustees and the Center
A. The Board of Trustees shall have the following powers and duties: 1. Manage, control, maintain, and operate the Center; 2. Take all actions necessary to qualify the Center as exempt from taxation pursuant to § 501(c)(3) of the Internal Revenue Code and operate the Center in accordance with the provisions governing nonstock corporations as […]