VirginiaLocal authority; authorized by ordinance to establish affordable housing performance grant programs.
What it does
Local authority; affordable housing performance grant programs. Allows any locality that has created an industrial development authority or economic development authority (the Authority) to establish, by ordinance, an affordable housing performance grant program. The bill outlines that such ordinance authorizes the Authority to award affordable housing performance grants to qualifying applicants.
More detail
Such an ordinance must include: (i) a definition of affordable housing; (ii) grant application guidelines and processes, including an identification of the local officer that is designated to receive applications; (iii) criteria for determining whether the construction or improvement of property qualifies for the awarding of the grant; (iv) provisions that require an applicant seeking the award of a grant to acquire appropriate permits and complete the construction or improvement to develop affordable housing before such a grant will be awarded; (v) provisions that require an applicant seeking the award of a grant to present evidence demonstrating that he has filed and recorded a restrictive covenant to provide affordable housing on the property for a set term, as determined by the ordinance, provided that such term shall be no more than 30 years, on the subject qualifying property before such a grant will be awarded; and (vi) a timeline for the Authority to award grants to qualifying applicants, which may be either upon the completion of the construction or improvement of the property, or on January 1 of the year following the completion of the construction or improvement of the property. The bill also limits the total amount of any such grant to being no more than the amount equal to the increase in assessed value resulting from the construction or improvement of a property. Finally, the bill permits a locality that adopts such ordinance to impose a fee, not to exceed $250, to offset the costs of processing an application.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 8Acts of Assembly Chapter text (CHAP0386)Latest
- Apr 8Approved by Governor Abigail Spanberger-Chapter 386 (effective 7/1/2026)Became Law
- Mar 14Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 14Enrolled Bill communicated to Governor on March 14, 2026Minor
- Mar 12Signed by SpeakerMajor
- Mar 11Signed by PresidentMajor
- Mar 11Bill text as passed House and Senate (HB352ER)Major
- Mar 11EnrolledMinor
- Mar 4Passed Senate (25-Y 15-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Mar 4Read third timeMinor
- Mar 3Passed by for the day Block Vote (Voice Vote)
- Vote recorded Constitutional reading dispensed (on 2nd reading). Result: pass.Upper
- Mar 3Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)
- Mar 3Rules suspended
- Mar 2Reported from Local Government (11-Y 4-N)Minor
- Vote recorded Reported from Local Government. Result: pass.Upper
- Jan 30Referred to Committee on Local GovernmentMinor
- Jan 30Constitutional reading dispensed (on 1st reading)
- Jan 29Read third time and passed House (78-Y 21-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Jan 28Read second time and engrossedMinor
- Jan 27Read first timeMinor
- Jan 23Reported from Counties, Cities and Towns (19-Y 1-N)Minor
- Vote recorded Reported from Counties, Cities and Towns. Result: pass.Lower
- Jan 22Subcommittee recommends reporting (8-Y 0-N)
- Vote recorded Subcommittee recommends reporting. Result: pass.Lower
- Jan 20Assigned HCCT sub: Subcommittee #2Minor
- Jan 12Referred to Committee on Counties, Cities and TownsMinor
- Jan 12Prefiled and ordered printed; Offered 01-14-2026 26104537DIntroduced