Defective Chinese drywall; disclosure of information, real estate tax exemption. (HB1610)
Introduced By
Del. Glenn Oder (R-Newport News)
Progress
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Introduced |
✓ |
Passed Committee |
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Passed House |
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Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Defective Chinese drywall; disclosure, assessed value, real estate tax exemption. Requires licensees engaged by sellers and buyers, and landlords who have actual knowledge of defective Chinese drywall in a dwelling unit, to disclose that information to the prospective tenant or buyer. If a tenant is not provided disclosure within 60 days of discovery of defective drywall he may terminate the lease. The bill also provides upon confirmation by a building official that defective Chinese drywall is present, that the commissioner or other assessing official may reassess the property accordingly. Local governments may also place the property in a rehabilitation district for purposes of granting the owner a partial real estate tax exemption. This bill is a recommendation of the Housing Commission. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/07/2011 | Committee |
01/07/2011 | Prefiled and ordered printed; offered 01/12/11 11100912D |
01/07/2011 | Referred to Committee on General Laws |
01/14/2011 | Assigned GL sub: #1 Housing |
01/19/2011 | Subcommittee recommends reporting with amendment(s) (7-Y 0-N) |
01/20/2011 | Reported from General Laws with substitute (22-Y 0-N) (see vote tally) |
01/20/2011 | Committee substitute printed 11104353D-H1 |
01/24/2011 | Read first time |
01/25/2011 | Read second time |
01/25/2011 | Committee substitute agreed to 11104353D-H1 |
01/25/2011 | Engrossed by House - committee substitute HB1610H1 |
01/26/2011 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
01/26/2011 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
01/27/2011 | Constitutional reading dispensed |
01/27/2011 | Referred to Committee on General Laws and Technology |
02/09/2011 | Reported from General Laws and Technology (12-Y 0-N) (see vote tally) |
02/11/2011 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
02/14/2011 | Read third time |
02/14/2011 | Passed Senate (40-Y 0-N) (see vote tally) |
02/17/2011 | Enrolled |
02/17/2011 | Bill text as passed House and Senate (HB1610ER) |
02/17/2011 | Signed by Speaker |
02/20/2011 | Signed by President |
03/10/2011 | G Approved by Governor-Chapter 34 (effective 7/1/11) |
03/10/2011 | G Acts of Assembly Chapter text (CHAP0034) |
Comments
Whst really needs to be addressed is the testing of every home for CDW contamination. Short sale by the financial institution in AS IS should be a warning sign that the bank is really trying to unload a Toxic Asset onto your balance sheet. Even with the term disclosure it means absolutely nothing to a bank or finacial institution when they want to rid them selfs of the CDW plague. Under current disclosure one can just say we had no knowledge and you have to prove otherwise. Years ago a hand shake meant a deal and a man was accepted by his word, today even if it is on paper you can not trust the man. Yes alot has changed in a country that no longer understands the meaning of right or wrong,one word of caution to persective home owners,if you do not know how to identify Chinese Drywall/Toxic Drywall please get the proper guidance I do not want to see you lose your shirt