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_ 149 Item Details($) Appropriations($) ITEM 115. First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 Department of Transportation. 2. CCALS shall submit a report by October 1st of each year to the Secretary of Commerce and Trade, the Chairs of the House Appropriations and Senate Finance and Appropriations Committees, the Director of the Department of Planning and Budget, and VIPA to include (i) all planned and actual revenue and expenditures along with funding sources, including state, federal, and other revenue sources for CCALS, (ii) the research activities of CCALS, and (iii) relevant economic outcomes as a result of the CCALS' work in each fiscal year. 3. On or before August 1st of each year, the Commonwealth Center for Advanced Logistics shall submit information on the financial performance of the organization to the Virginia Innovation Partnership Authority to include (i) budgeted and actual revenues and expenditures to planned revenues and expenditures for the fiscal year; (ii) total investments broken out into various investment activities; and (iii) cash balances by funding source. N. Out of the appropriation in this Item, $125,000 the first year and $125,000 the second year is designated for the Virginia Academy of Engineering, Science and Medicine to provide technical assistance to VIPA. O. Out of the appropriation in this Item, $750,000 the first year and $750,000 the second year from the general fund is provided for the annual lease and operating costs for the Authority's Richmond headquarters and other locations throughout the Commonwealth. P.1. Out of this appropriation, $6,500,000 $46,500,000 the first year and $40,000,000 the second year from the general fund is provided for the University of Virginia's Institute for Biotechnology. The University of Virginia shall enter into a Memorandum of Understanding (MOU) with the Virginia Innovation Partnership Authority that includes performance objectives for the hiring of up to 30 researchers or more over the biennium, including research faculty and staff, to support the work of the Institute, with a final target to be established during the MOU process, and additional near-term and long-term performance objectives agreed to by both parties. In addition to performance metrics for the state's investments, the MOU shall also identify: (i) the research specialization of the initiative; (ii) sources of private philanthropic and other funding; (iii) opportunities for joint research projects and clinical trials; and (iv) commitments to non-competition for research in life sciences. These amounts shall remain unallotted by the Director of the Department of Planning and Budget until such time as an executed MOU has been received from the Virginia Innovation Partnership Authority. On or before August 1st of each year, upon the signature of the MOU, the University of Virginia shall submit information on the financial performance of the initiative to the Virginia Innovation Partnership Authority to include: (i) budgeted and actual revenues and expenditures to planned revenues and expenditures for the fiscal year; (ii) total investments broken out into various investment activities; and (iii) cash balances. 2. Any balances in this paragraph remaining at end of the fiscal year shall be carried forward and reappropriated. Q.1. Out of this appropriation, $6,000,000 $26,500,000 the first year and $20,500,000 the second year from the general fund is provided for Virginia Polytechnic Institute and State University's Patient Research Center. Virginia Polytechnic Institute and State University shall enter into a Memorandum of Understanding (MOU) with the Virginia Innovation Partnership Authority that includes performance objectives for the hiring of up to 40 researchers or more over five years, including research faculty and staff to support the work of the Center, with a final target to be established during the MOU process, and additional near-term and long-term performance objectives agreed to by both parties. In addition to performance metrics for the state's investments, the MOU shall also identify: (i) the research specialization of the initiative; (ii) sources of private philanthropic and other funding; (iii) opportunities for joint research projects and clinical trials; and (iv) commitments to non-competition for research in life sciences. These amounts shall remain unallotted by the Director of the Department of Planning and Budget until such time as an executed MOU has been received from the Virginia Innovation Partnership Authority. On or before August 1st of each year, upon the signature of the MOU, the Virginia Polytechnic Institute and State University shall submit information on the financial performance of the initiative to the Virginia Innovation Partnership Authority to include