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2011 SESSION

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11102189D
SENATE BILL NO. 996 Offered January 12, 2011 Prefiled January 11, 2011 A BILL to amend and reenact § 15.2-2303.1:1 of the Code of Virginia, relating to collection and acceptance of cash proffers. ---------- Patron-- Stuart ---------- Referred to Committee on Local Government ----------

Be it enacted by the General Assembly of Virginia:

1.  That § 15.2-2303.1:1 of the Code of Virginia is amended and reenacted as follows:

§ 15.2-2303.1:1. When certain cash proffers collected or accepted.

A. Notwithstanding the provisions of any cash proffer requested, offered, or accepted pursuant to § 15.2-2298, 15.2-2303, or 15.2-2303.1 for residential construction on a per-dwelling unit or per-home basis, a locality may require that cash payment made pursuant to such a cash proffer shall be collected or accepted by any locality only after completion of the final inspection and prior to the time of the issuance of any certificate of occupancy for the subject property.

B. The provisions of this section shall expire on July 1, 2014.