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2007 SESSION

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HB 2203 Subaqueous lands; parties in City of Norfolk to pay amount commensurate with property interest.

Introduced by: Leo C. Wardrup, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Conveyance of subaqueous lands.  Clarifies that the three parties who were authorized in 2006 to receive conveyances of parcels of state-owned bottomlands located in the City of Norfolk shall compensate the Commonwealth in an amount equal to 25% of the assessed value of the land being conveyed, unless the Marine Resources Commission were to determine that unique circumstances warrant compensation in an amount less than 25% of the assessed value.


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