VA HB1497

Recognizes and restores Hampton University's status as an 1862 and 1890 land-grant university in Virginia, making it eligible for federal funding under the Morrill Acts alongside Virginia Tech and Virginia State University

Establishes the Hampton University Land-Grant Restoration Fund as a special nonreverting state treasury fund to provide funding commensurate with that received by Virginia Tech and Virginia State University

Specifies Hampton University will be eligible for competitive and formula-based federal funds from USDA, Department of Education, NSF, NIH, and National Cancer Institute, plus required state matching funds

Requires Hampton University to advance its land-grant mission through agricultural and environmental research, cooperative extension programs for underserved populations, workforce development in biotechnology and marine science, and programs serving African American and Native American communities

Explicitly protects existing funding for Virginia Tech and Virginia State University, stipulating that Hampton's restoration shall not reduce their funding formulas