Defective Chinese drywall; disclosure of information, real estate tax exemption. (SB942)
Introduced By
Sen. John Miller (D-Newport News)
Progress
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Introduced |
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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 |
|---|---|
| 01/10/2011 | Prefiled and ordered printed; offered 01/12/11 11103387D |
| 01/10/2011 | Referred to Committee on General Laws and Technology |
| 01/19/2011 | Reported from General Laws and Technology with amendment (15-Y 0-N) (see vote tally) |
| 01/21/2011 | Constitutional reading dispensed (35-Y 0-N) (see vote tally) |
| 01/24/2011 | Read second time |
| 01/24/2011 | Reading of amendment waived |
| 01/24/2011 | Committee amendment agreed to |
| 01/24/2011 | Engrossed by Senate as amended SB942E |
| 01/24/2011 | Printed as engrossed 11103387D-E |
| 01/25/2011 | Read third time and passed Senate (39-Y 0-N) (see vote tally) |
| 02/07/2011 | Placed on Calendar |
| 02/07/2011 | Read first time |
| 02/07/2011 | Referred to Committee on General Laws |
| 02/15/2011 | Reported from General Laws with amendment (22-Y 0-N) (see vote tally) |
| 02/16/2011 | Read second time |
| 02/17/2011 | Read third time |
| 02/17/2011 | Committee amendment agreed to |
| 02/17/2011 | Engrossed by House as amended |
| 02/17/2011 | Passed House with amendment BLOCK VOTE (98-Y 0-N) |
| 02/17/2011 | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally) |
| 02/21/2011 | House amendment agreed to by Senate (40-Y 0-N) (see vote tally) |
| 02/25/2011 | Enrolled |
| 02/25/2011 | Bill text as passed Senate and House (SB942ER) |
| 02/25/2011 | Signed by Speaker |
| 02/25/2011 | Signed by President |
| 03/10/2011 | G Approved by Governor-Chapter 46 (effective 7/1/11) |
| 03/10/2011 | G Acts of Assembly Chapter text (CHAP0046) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 1 minute.
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