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2009 SESSION

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HB 2055 Development rights; makes extensive changes to provisions for making transfer process more usable.

Introduced by: Matthew J. Lohr | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Transfer of development rights.  Makes extensive changes to provisions initially passed in 2006 for the purpose of making the transfer of development rights process more useable for property owners and localities. The amendments make clear that development rights may be severed but not immediately affixed to a receiving property. Other changes state that a locality may provide in its ordinance for (i) the owner of such development rights to make application to the locality for a real estate tax abatement for a period up to 25 years, to compensate the owner of such development rights for the fair market value of all or part of the development rights, (ii) the owner of a property to request designation by the locality of the owner’s property as a "sending property" or a "receiving property," and (iii) the receiving areas to include such urban development areas in the locality established.  Also, any proposed severance or transfer of development rights shall only be initiated upon application by the property owners of the sending properties, development rights, or receiving properties, and a locality may not require property owners to sever or transfer development rights as a condition of the development of any property.  This is a recommendation of the Joint Subcommittee Studying Transfer of Development Rights.  This bill is identical to SB 1418.


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