Development rights; makes extensive changes to provisions for making transfer process more usable. (HB2055)

Introduced By

Del. Matt Lohr (R-Harrisonburg)

Description

Transfer of development rights. Makes extensive changes to provisions initially passed in 2006 for the purpose of making the transfer of development rights process more useable for property owners and localities. The amendments make clear that development rights may be severed but not immediately affixed to a receiving property. Other changes state that a locality may provide in its ordinance for (i) the owner of such development rights to make application to the locality for a real estate tax abatement for a period up to 25 years, to compensate the owner of such development rights for the fair market value of all or part of the development rights, (ii) the owner of a property to request designation by the locality of the owners property as a "sending property" or a "receiving property," and (iii) the receiving areas to include such urban development areas in the locality established. Also, any proposed severance or transfer of development rights shall only be initiated upon application by the property owners of the sending properties, development rights, or receiving properties, and a locality may not require property owners to sever or transfer development rights as a condition of the development of any property. This is a recommendation of the Joint Subcommittee Studying Transfer of Development Rights. Amends § 15.2-2316.1 (“Definitions.”), § 15.2-2316.2 (“Localities may provide for transfer of development rights.”), of the Code of Virginia. View Full Text »

Outcome

No Richmond Sunlight visitors voted on this bill while voting was open.