State Council of Higher Education for Virginia




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Virginia Research Investment Fund (VRIF) and Committee (VRIC)

Creation

The 2016 Virginia General Assembly passed, and Governor Terry McAuliffe signed, legislation to support the academic-research enterprise in the Commonwealth. Enacted as Article 8 of Chapter 31 of Title 23.1 (§23.1-3130 through §23.1-3133) of the Code of Virginia, the legislation created the Virginia Research Investment Fund (VRIF) and an awarding body, the Virginia Research Investment Committee (VRIC). The Director of SCHEV is designated as VRIC Chair. SCHEV is charged with establishing guidelines, procedures, and objective criteria for the award of grants from VRIF.

The 2016 legislation also amended Va. Code §2.2-3705.6 (exclusions to the Freedom of Information Act), §2.2-3711 (closed meetings authorized), and §23.1-203 (duties of State Council of Higher Education for Virginia).

In 2017, amendments to the authorizing statutes were proposed as SB1371.

Appropriations

The state budget designated $8 million for the VRIF in FY2017 and $14 million in FY2018, as well as $29 million in bonding authority in FY2017 to support the purchase of research equipment or laboratory renovations associated with researcher incentive packages and the translation of research into commercial use (see Item 255). The budget also designated the VRIF as recipient of the final proceeds of the sale of certain property in Loudon and Fairfax counties deemed surplus (see Paragraph U of Item 428).

In December 2016, the Governor's Executive Amendments to the 2016-2018 Biennial Budget included reductions to the VRIF appropriations.

Members

List of members and biographies

Meetings

Meeting information, agendas, and materials

Resources

Links to related programs in Virginia and other states.


Annual Report
 

(November 1, 2016)


For additional information, please contact:

Lynn Seuffert, Associate for Research Investment, via email or call (804) 786-2306.

Dr. Alan Edwards via email or call (804) 225-3189.

© 2016 State Council of Higher Education for Virginia
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