Enterprise zone real property; investment grants. (HB1726)

Introduced By

Del. Sam Rasoul (D-Roanoke)

Progress

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

Description

Enterprise zone real property investment grants. Allows investments in buildings that incorporate residential and commercial or industrial uses to qualify for an enterprise zone real property investment grant with regard to the portion of the investment associated with the exclusive commercial space, which is the area within the peripheral walls and ceiling of any portion of the building that is used for a commercial or industrial use. Currently, expenditures incurred with respect to all of a building with both residential uses and commercial or industrial uses may constitute a qualified real property investment only if at least 30 percent of the usable floor space will be devoted to commercial or industrial use. This measure provides that where less than 30 percent of the building's space will be devoted to commercial or industrial use, expenditures associated with the exclusive commercial space may nonetheless qualify for a grant under the enterprise zone program. Amends § 59.1-548, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2015Committee
01/12/2015Prefiled and ordered printed; offered 01/14/15 15103202D
01/12/2015Referred to Committee on Appropriations
01/21/2015Assigned App. sub: Agriculture, Commerce, Technology and Natural Resources
01/27/2015Impact statement from DPB (HB1726)
01/28/2015Subcommittee recommends laying on the table
02/10/2015Left in Appropriations