Virginia Business Ready Expedited Permitting Program; created.

Virginia Business Ready Expedited Permitting Program established; report. Establishes the Virginia Business Ready Expedited Permitting Program and directs the Virginia Economic Development Partnership Authority to designate up to two sites and four projects for participation in the Program. Sites and projects eligible for the Program shall include only (i) sites eligible for a site development grant under the Virginia Business Ready Sites Program or (ii) projects with significant local, regional, or statewide economic impact that the governing body of the locality in which the project is located has either (a) approved following a public meeting or hearing or (b) submitted, by resolution, for consideration to be included in the Program. No more than two eligible sites or projects shall be designated as part of the Program within any locality annually. The Authority shall complete a review process within 45 days of designating a site to reduce permitting conflicts and provide relevant guidance to applicants. The bill also provides that no project shall be considered eligible to enter the Program after December 31, 2027, and requires annual reporting from the Authority. The bill has a delayed effective date of January 1, 2025, and expires on June 30, 2028. This bill is identical to HB 1125.