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2007 SESSION

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HB 2990 Subaqueous lands; Marine Resources Commission to convey adjoining parcels thereof.

Introduced by: Kenneth R. Melvin | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

Conveyance of subaqueous land.  Authorizes the Marine Resources Commission to convey a parcel of state-owned bottomlands in the Elizabeth River in Norfolk to a private corporation. The grantee 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. The terms and conditions of the conveyance shall be approved by the Governor and the conveyance shall be in a form approved by the Attorney General.

SUMMARY AS PASSED HOUSE:

Conveyance of subaqueous land.  Authorizes the Marine Resources Commission to convey a parcel of subaqueous land in the Elizabeth River in Norfolk to a private corporation at fair market value. The terms and conditions of the conveyance shall be approved by the Governor and the conveyance shall be in a form approved by the Attorney General.

SUMMARY AS INTRODUCED:

Conveyance of subaqueous land.  Authorizes the Marine Resources Commission to convey two adjoining parcels of subaqueous land in the Elizabeth River in Norfolk to a private corporation. The Commission is authorized to charge a reasonable fee for the administrative cost of conveying the property.