Affordable housing; assessment of real property, consideration of limitations. (HB1086)

Introduced By

Del. Jim Scott (D-Merrifield)

Progress

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

Description

Real property assessments; consideration of affordable housing limitations. Requires local tax assessors to consider the impact of legally imposed rent restrictions on real property operated as affordable housing in determining the fair market value of such property. The bill also provides that federal and state income tax credits with respect to real property shall not be considered real property or income attributable to real property. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2006Prefiled and ordered printed; offered 01/11/06 065305500
01/11/2006Referred to Committee on Finance
01/18/2006Assigned to Finance sub-committee: #1 (Orrock)
01/23/2006Fiscal impact statement from TAX (HB1086)
02/06/2006Incorporated by Finance (HB1173-Rapp)