McAuliffe vetoes development fund ethics bill

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Associated Press

Posted on May 24, 2014 at 5:35 AM

RICHMOND, Va. (AP) — Gov. Terry McAuliffe is vetoing a bill that would have prevented him or his political action committee from raising money from companies seeking loans or grants from a state economic development fund.

McAuliffe's veto was made public Friday.

The bill passed with unanimous support from both chambers of the General Assembly. It would have limited donations from companies seeking money from the Governor's Development Opportunity Fund, a $35 million pot the governor can use to help attract businesses to Virginia.

McAuliffe's veto came after he unsuccessfully tried to amend the bill to include the same fundraising restrictions on state lawmakers.

One of the bill's sponsors, Republican Del. James LeMunyon of Fairfax County, said he plans to reintroduce the bill next year.

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