Livable home tax credit; increases maximum amount, real estate developers eligible to receive. (HB1950)

Introduced By

Del. Ron Villanueva (R-Virginia Beach)

Progress

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

Description

Livable home tax credit.  Increases the maximum amount of credit that may be allowed from $2,000 to $5,000 and makes real estate developers eligible to receive the credit. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/11/2011Committee
01/11/2011Prefiled and ordered printed; offered 01/12/11 11100828D
01/11/2011Referred to Committee on Finance
01/17/2011Assigned Finance sub: #3
01/20/2011Impact statement from TAX (HB1950)
01/21/2011Subcommittee recommends reporting (5-Y 0-N)
01/24/2011Reported from Finance with substitute (22-Y 0-N) (see vote tally)
01/24/2011Committee substitute printed 11104526D-H1
01/24/2011Incorporates HB1753
01/25/2011Read first time
01/26/2011Read second time
01/26/2011Committee substitute agreed to 11104526D-H1
01/26/2011Engrossed by House - committee substitute HB1950H1
01/27/2011Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/27/2011VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
01/28/2011Constitutional reading dispensed
01/28/2011Referred to Committee on Finance
02/14/2011Impact statement from TAX (HB1950H1)
02/15/2011Reported from Finance (15-Y 0-N) (see vote tally)
02/16/2011Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2011Read third time
02/16/2011Passed Senate (38-Y 0-N) (see vote tally)
02/16/2011Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/16/2011Passed Senate (40-Y 0-N) (see vote tally)
02/22/2011Enrolled
02/22/2011Bill text as passed House and Senate (HB1950ER)
02/22/2011Signed by Speaker
02/23/2011Signed by President
03/22/2011G Approved by Governor-Chapter 365 (effective 7/1/11)
03/22/2011G Acts of Assembly Chapter text (CHAP0365)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 50 seconds.

Comments

Todd Hawkins writes:

Most communities across the Commonwealth have a shortage of affordable and/or accessible housing. Think the stock of housing inventory is too high now? Our nations largest generation, Baby Boomers, began turning 65 New Years Day at a clip of 10,000 daily for the next 19 years (one every 8 seconds). Who will buy their homes if their houses are not visitable or livable?
Localities and the state should encourage home owners and builders to improve accessibility to ward off forced moves, shut-ins and the additional strain that would fall to social services. Like energy improvement credits, this incentive would encourage owners and developers/builders to research and consider toward sowing the seed for long term market demand once consumer awareness builds.

Jim Herndon writes:

This could add needed incentives to builders and also increase the percent of housing stock that, at least, has some degree of visitability.

Virginia Housing Coalition, tracking this bill in Photosynthesis, notes:

The Virginia Housing Coalition is actively supporting this bill.