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2018 SESSION
SB 448 Abandoned schools; creation of revitalization zones.
Introduced by: A. Benton "Ben" Chafin | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Abandoned school revitalization zones. Allows localities to establish by ordinance one or more abandoned school revitalization zones for the purpose of providing incentives to private entities to purchase or develop real property or to assemble parcels suitable for economic development that include an abandoned school site. Each locality establishing an abandoned school revitalization zone may grant incentives and provide regulatory flexibility. The incentives may include, but not be limited to, (i) reduction of permit fees, (ii) reduction of user fees, (iii) reduction of any type of gross receipts tax or any other type of local tax as permitted by state law, and (iv) waiver of tax liens to facilitate the sale of property, if deemed appropriate. A school located in an abandoned school revitalization zone shall be eligible for participation in the Virginia Shell Building Initiative. This bill is identical to HB 1179.
SUMMARY AS INTRODUCED:
Abandoned school revitalization zones in coalfield region. Allows localities located in the coalfield region of Virginia to establish by ordinance one or more abandoned school revitalization zones for the purpose of providing incentives to private entities to purchase or develop real property or to assemble parcels suitable for economic development that include an abandoned school site. Each locality establishing an abandoned school revitalization zone may grant incentives and provide regulatory flexibility. The incentives may include, but not be limited to, (i) reduction of permit fees, (ii) reduction of user fees, (iii) reduction of any type of gross receipts tax or any other type of tax as permitted by state law, and (iv) waiver of tax liens to facilitate the sale of property, if deemed appropriate. A school located in an abandoned school revitalization zone shall be eligible for participation in the Virginia Shell Building Initiative.