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ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2016 SESSION
HB 268 Land Bank Entities Act; established.
Introduced by: Daniel W. Marshall, III | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Land Bank Entities Act. Authorizes the establishment of a land bank entity by any locality or two or more localities combined to assist in addressing vacant, abandoned, and tax-delinquent real properties. Under the bill, the locality has the option of (i) creating an authority or a nonprofit, nonstock corporation or (ii) designating an existing nonprofit entity that is exempt from taxation under § 501(c)(3) of the Internal Revenue Code and eligible to receive donations from a locality pursuant to § 15.2-953 to carry out the functions of such land entity. The bill provides that land bank entities may acquire real property within participating localities or receive transfers and conveyances from the participating localities. Land bank entities are authorized to receive funding through grants and loans from participating localities, the Commonwealth, the federal government, and other public and private sources. In addition, the bill authorizes a locality to deem paid in full all accumulated taxes, penalties, interest, and other costs on any tax-delinquent property in exchange for conveyance of the property by the owner to a land bank entity. The bill also authorizes a participating locality to remit to the land bank entity up to 50 percent of the real property taxes collected on real property conveyed by a land bank entity for up to 10 years after the conveyance. This bill is a recommendation of the Virginia Housing Commission. This bill is identical to SB 414.
FULL TEXT
- 12/31/15 House: Prefiled and ordered printed; offered 01/13/16 16103273D pdf
- 02/09/16 House: Printed as engrossed 16103273D-E pdf
- 03/01/16 House: Bill text as passed House and Senate (HB268ER) pdf
- 03/03/16 House: Bill text as passed House and Senate reprinted (HB268ER) pdf
- 03/11/16 Governor: Acts of Assembly Chapter text (CHAP0383) pdf
- 03/11/16 Governor: Acts of Assembly Chapter text reprinted (CHAP0383) pdf
AMENDMENTS
HISTORY
- 12/31/15 House: Prefiled and ordered printed; offered 01/13/16 16103273D
- 12/31/15 House: Referred to Committee on Counties, Cities and Towns
- 01/18/16 House: Assigned CC & T sub: Subcommittee #2
- 02/03/16 House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N)
- 02/05/16 House: Reported from Counties, Cities and Towns with amendments (21-Y 1-N)
- 02/08/16 House: Read first time
- 02/09/16 House: Read second time
- 02/09/16 House: Committee amendments agreed to
- 02/09/16 House: Engrossed by House as amended HB268E
- 02/09/16 House: Printed as engrossed 16103273D-E
- 02/10/16 House: Read third time and passed House (80-Y 19-N)
- 02/10/16 House: VOTE: PASSAGE (80-Y 19-N)
- 02/11/16 Senate: Constitutional reading dispensed
- 02/11/16 Senate: Referred to Committee on Finance
- 02/24/16 Senate: Reported from Finance (14-Y 0-N)
- 02/25/16 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/26/16 Senate: Read third time
- 02/26/16 Senate: Passed Senate (39-Y 0-N)
- 03/01/16 House: Enrolled
- 03/01/16 House: Bill text as passed House and Senate (HB268ER)
- 03/03/16 House: Bill text as passed House and Senate reprinted (HB268ER)
- 03/03/16 House: Signed by Speaker
- 03/04/16 Senate: Signed by President
- 03/07/16 House: Enrolled Bill communicated to Governor on 3/7/2016
- 03/07/16 Governor: Governor's Action Deadline Midnight, Sunday, April 10, 2016
- 03/11/16 Governor: Approved by Governor-Chapter 383 (effective 7/1/16)
- 03/11/16 Governor: Acts of Assembly Chapter text (CHAP0383)
- 03/11/16 Governor: Acts of Assembly Chapter text reprinted (CHAP0383)