VA HB1248

Establishes the Virginia Creative Economy Grant Program to award competitive grants to independent content creators and creative economy entrepreneurs for developing and expanding Virginia's creative economy

Defines creative economy to include production of audio, video, and visual content; literary and performing arts; film, music, software, and video games; physical goods like instruments, art, crafts, and furniture; and television or radio

Caps individual grants at $20,000 for eligible small businesses, self-employed individuals, or independent content creators who generate profit from original digital media content

Assigns administration to the Virginia Innovation Partnership Corporation in consultation with the Virginia Commission for the Arts, which will establish guidelines and criteria for grant awards

Requires all appropriated funds and donations to be paid into the state treasury and used solely for awarding grants or administering the program