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HB 1053

GO Virginia grants; matching funds.

2026 Regular Session Introduced by Mitchell Cornett and 1 co-sponsor

HB 1053 would have modified GO Virginia economic development grant matching fund requirements but was defeated 64-33 in the House on February 5, 2026.

Read third time and defeated by House (33-Y 64-N 0-A)
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Bill Summary · HB 1053

Legislative bill overview

HB 1053 proposed modifications to Virginia's GO Virginia program, which provides economic development grants to regional organizations. The bill specifically addressed matching fund requirements that recipients must meet to qualify for state grants. The measure ultimately failed in the House despite passing committee review.

Why is this important

GO Virginia grants are a primary economic development tool for regions outside Northern Virginia and Hampton Roads, directly affecting job creation and business investment in rural and small urban areas. Changes to matching fund requirements could either expand access for cash-strapped localities or reduce accountability for how state funds are deployed. The bill's defeat suggests the House majority felt the current matching structure was appropriate or had concerns about the proposed changes.

Potential points of contention

  • Matching fund burden: Whether requiring local matching funds creates unfair barriers for economically disadvantaged regions that lack readily available funding sources
  • State accountability: Whether reducing matching requirements might diminish local commitment or oversight of how grant money is actually spent
  • Regional equity: Concerns that any change could disproportionately benefit some regions while disadvantaging others already struggling with fundraising capacity

Compiled from official sources — confirm details with the bill’s official record.

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