2.2-2202 - Declaration of public purpose; Authority created.
§ 2.2-2202. Declaration of public purpose; Authority created.
A. The General Assembly has determined that there exists in the Commonwealtha need to (i) disseminate knowledge pertaining to scientific andtechnological research and development among public and private entities,including but not limited to knowledge in the area of commercial spaceflight, and (ii) promote industrial and economic development. In order tofacilitate and coordinate scientific and technological research anddevelopment and to promote the industrial and economic development of theCommonwealth, which purposes are declared to be public purposes.
B. To achieve the objectives of subsection A, there is created a politicalsubdivision of the Commonwealth to be known as the "Virginia CommercialSpace Flight Authority" (the "Authority"). The Authority's exercise ofpowers conferred by this article shall be deemed to be the performance of anessential governmental function and matters of public necessity for whichpublic moneys may be spent and private property acquired.
(1995, c. 758, § 9-266.3; 2001, c. 844.)