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Bill

SB 1231

Virginia Investment Performance Grants; awarding of Grants.

2025 Regular Session Introduced by Lashrecse Aird

Virginia establishes performance-based grant program awarding state funds to entities meeting investment performance benchmarks, effective July 1, 2025.

Acts of Assembly Chapter text (CHAP0178)
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Bill Summary · SB 1231

Legislative bill overview

SB 1231 establishes a grant program in Virginia that awards funds based on investment performance metrics. The bill, sponsored by Senator Lashrecse Aird, creates a mechanism for distributing state resources to entities or projects that meet specified performance benchmarks, with implementation beginning July 1, 2025.

Why is this important

Performance-based grant programs tie public funding directly to measurable outcomes, potentially improving accountability and efficiency in how taxpayer dollars are spent. This approach can incentivize better results across various sectors, though the effectiveness depends heavily on how performance metrics are defined and measured.

Potential points of contention

  • Metric clarity: The bill's success hinges on whether "investment performance" is clearly defined and fairly measurable across different applicants or sectors
  • Equity concerns: Performance-based grants may disadvantage organizations serving disadvantaged communities or working on longer-term impacts that are difficult to quantify quickly
  • Funding predictability: Recipients may face uncertainty about future funding if performance benchmarks are difficult to maintain consistently

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

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