HB1974: Economic revitalization zone; created.

Chief Patron

Del. Bill Fralin (R-17)

Bill Fralin (R-17)
Roanoke, VA
Served: 2004–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

03/12/2007: signed by governor

View Entire History

Summary

Economic revitalization zone. Allows any city, by ordinance, to establish one or more economic revitalization zones for the purpose of providing incentives to private entities to purchase real property and interests in real property to assemble parcels suitable for economic development. Each city establishing an economic revitalization zone may grant tax incentives and provide regulatory flexibility. Properties that are acquired through the use of eminent domain shall not be eligible for the incentives and regulatory flexibility provided by the ordinance.