Chief Patron

Sen. Ken Cuccinelli (R-37)

Ken Cuccinelli (R-37)
Served: 2002–

Status

Bill is Dead
View Entire History

Summary

Fees imposed on new residential development.  Provides that every local building department shall assess and impose a fee for its issuance of a final certificate of occupancy for any residential building or any residential structure that is situated within a new development. Each fee shall be charged to and collected from the developer of such building. If the sales price of the residential building or structure is $200,000 or more, then the fee shall be 1.25% of such sales price or 1.25% of the actual value of the building or structure, whichever is greater. If the sales price of the residential building or structure is less than $200,000, then the fee shall be 0.75% of the sales price or 0.75% of the actual value of the building or structure, whichever is greater. The local building department shall deposit any fee collected into the Transportation Trust Fund to be used, within three years, for transportation projects in the construction district that embraces the locality served by the local building department. Several enactment clauses sunset the provisions of this bill.