HB791: Fort Lee Housing Enterprise Zone, created.

Chief Patron

Del. Riley Ingram (R-62)

Riley Ingram (R-62)
Hopewell, VA
Served: 1992–

Progress

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

Status

02/12/2008: Failed to Pass in Committee

View Entire History

Summary

Fort Lee Housing Enterprise Zone.  Establishes the Fort Lee Housing Enterprise Zone to encompass a 10-mile radius surrounding the Fort Lee military base located in Prince George County for the purpose of encouraging the construction, redevelopment, or rehabilitation of single- and multi-family housing in the zone. The bill also establishes the Housing Enterprise Zone Tax Credit available to persons who build or substantially redevelop or rehabilitate (i) a single-family home with a value of $250,000 or less or (ii) a multifamily housing project consisting of apartments with at least two bedrooms and renting for $750 or less per month, on property located within the Fort Lee Housing Enterprise Zone. In addition, the bill authorizes local governing bodies whose territory is contained within the Fort Lee Housing Enterprise Zone to establish a housing enterprise zone for the purpose of providing incentives and regulatory flexibility to encourage the construction, redevelopment, or rehabilitation of single- and multi-family housing in the zone.