Bill Text: VA SB996 | 2011 | Regular Session | Introduced

Bill Title: Cash proffers; acceptance by localities.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-01-18 - Senate: Passed by indefinitely in Local Government (15-Y 0-N) [SB996 Detail]

Download: Virginia-2011-SB996-Introduced.html
Offered January 12, 2011
Prefiled January 11, 2011
A BILL to amend and reenact § 15.2-2303.1:1 of the Code of Virginia, relating to collection and acceptance of cash proffers.
Patron-- Stuart
Referred to Committee on Local Government

Be it enacted by the General Assembly of Virginia:

1.  That § 15.2-2303.1:1 of the Code of Virginia is amended and reenacted as follows:

§ 15.2-2303.1:1. When certain cash proffers collected or accepted.

A. Notwithstanding the provisions of any cash proffer requested, offered, or accepted pursuant to § 15.2-2298, 15.2-2303, or 15.2-2303.1 for residential construction on a per-dwelling unit or per-home basis, a locality may require that cash payment made pursuant to such a cash proffer shall be collected or accepted by any locality only after completion of the final inspection and prior to the time of the issuance of any certificate of occupancy for the subject property.

B. The provisions of this section shall expire on July 1, 2014.