Lithium-ion Battery Separator Manufacturing Grant Fund. Establishes the Lithium-ion Battery Separator Manufacturing Grant Fund to, subject to appropriation, fund 20 annual grant award installments, in an aggregate amount not to exceed $60.597 million, to a qualified company that engages in the manufacture of lithium-ion battery separators and that executes a memorandum of understanding with the Commonwealth and the Virginia Economic Development Partnership, and that on and after July 1, 2024, but before July 1, 2045, is expected to (i) make a capital investment, defined in the bill, of at least $1.3506 billion and (ii) create and maintain at least 2,015 new full-time jobs in in Pittsylvania County.