Real estate with delinquent taxes or liens; sales by nonprofit organizations. (HB535)

Introduced By

Del. Betsy Carr (D-Richmond)

Progress

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

Description

Real estate with delinquent taxes or liens; sales by nonprofit organizations. Provides that a nonprofit organization that acquires real estate with delinquent taxes or liens pursuant to the appointment of a special commissioner may sell to eligible purchasers either (i) both the land and structural improvements on a property or (ii) only the structural improvements of a property, without the land. The bill provides that a sale of only the structural improvements is permissible only if (a) the improvements are subject to a long-term ground lease with a community land trust and (b) the community land trust retains a preemptive option to purchase such improvements at a price determined by a formula that ensures that the improvements remain affordable in perpetuity to low-income and moderate-income families. Read the Bill »

Status

02/20/2020: Passed the Senate

History

DateAction
01/05/2020Committee
01/05/2020Prefiled and ordered printed; offered 01/08/20 20100584D
01/05/2020Referred to Committee on Finance
01/12/2020Impact statement from TAX (HB535)
01/14/2020Assigned Finance sub: Subcommittee #2
01/20/2020Subcommittee recommends reporting (7-Y 2-N)
01/22/2020Reported from Finance (18-Y 4-N) (see vote tally)
01/24/2020Read first time
01/27/2020Read second time and engrossed
01/28/2020Read third time and passed House (82-Y 17-N)
01/28/2020VOTE: Passage (82-Y 17-N) (see vote tally)
01/29/2020Constitutional reading dispensed
01/29/2020Referred to Committee on Finance and Appropriations
02/18/2020Reported from Finance and Appropriations (15-Y 0-N) (see vote tally)
02/19/2020Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/20/2020Read third time
02/20/2020Passed Senate (40-Y 0-N) (see vote tally)
02/25/2020Enrolled
02/25/2020Bill text as passed House and Senate (HB535ER)
02/26/2020Impact statement from TAX (HB535ER)

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