VirginiaHB42026 Regular SessionHouseWALLET

Affordable housing; preservation, definitions, civil penalty.

Sponsored By: Jen Kiggans - to resign 12/31 (Republican)

Became Law

Summary

Preservation of affordable housing; definitions; civil penalty. Creates a framework for localities to preserve affordable housing by exercising a right of first refusal on publicly supported housing, defined in the bill. The bill authorizes localities to adopt an ordinance that requires an owner to accept a right of first refusal offer by the locality or qualified designee, defined in the bill, in order to preserve affordable housing for at least 15 years. The bill requires that any locality with a population greater than 3,500 adopting such an ordinance to preserve affordable housing submit an annual report to the Department of Housing and Community Development pursuant to existing law.

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

24-month notice and fines for owners

Localities can require owners of publicly supported housing to give written notice 24 months before affordability ends to the locality, every tenant, and any tenant group. The notice must say if the owner will end affordability, convert the use, try to renew, or sell, and whether a buyer will follow equivalent rules. If less than 24 months remain when the ordinance takes effect, owners must give the notice within 90 days. The locality can ask for proof within 30 days and must contest within 60 days or record compliance. Localities may fine up to $5,000 per violation for missed or faulty notices, but not if a compliance certificate is recorded or the owner was not properly told of noncompliance.

Local first chance to keep homes affordable

After the owner gives the termination notice, the locality can pick a qualified buyer who agrees to keep the homes affordable for at least 15 years. The locality or its designee can record a right of first refusal that runs up to 24 months after affordability ends. If the owner accepts a bona fide third‑party offer, the owner must notify the locality within five business days; the locality or designee then has 30 days to match the offer and the owner must accept the first matching offer. A matching offer can include an earnest money deposit up to the other buyer’s deposit or 4% of the price, and that deposit can stay refundable for up to 90 days if financing fails. The right does not apply if no recorded notice exists, if a buyer agrees in writing to extend affordability for the required period (up to 30 years), if the transfer is not a sale, if more than 24 months have passed since affordability ended, or for certain sales soon after the ordinance takes effect. These state rights are second to any local funding purchase rights and to a nonprofit’s federal low‑income housing tax credit purchase right. A locality or designee can sue violators for damages, injunctions, and attorney fees, unless a compliance certificate was recorded or the owner was not properly notified.

Sponsors & Cosponsors

Sponsor

  • Jen Kiggans - to resign 12/31

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 156 • No: 68

Senate vote 3/10/2026

Passed Senate

Yes: 21 • No: 19

Senate vote 3/6/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 39 • No: 0

Senate vote 3/6/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/4/2026

Reported from General Laws and Technology

Yes: 9 • No: 6

House vote 2/2/2026

Read third time and passed House

Yes: 65 • No: 34

House vote 1/27/2026

Reported from General Laws

Yes: 15 • No: 6

House vote 1/22/2026

Subcommittee recommends reporting

Yes: 7 • No: 3

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0352)

    4/8/2026Governor
  2. Approved by Governor-Chapter 352 (effective 7/1/2026)

    4/8/2026Governor
  3. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/31/2026Governor
  4. Enrolled Bill communicated to Governor on March 31, 2026

    3/31/2026House
  5. Signed by Speaker

    3/31/2026House
  6. Bill text as passed House and Senate (HB4ER)

    3/30/2026House
  7. Enrolled

    3/30/2026House
  8. Signed by President

    3/30/2026Senate
  9. Passed Senate (21-Y 19-N 0-A)

    3/10/2026Senate
  10. Read third time

    3/10/2026Senate
  11. Passed by for the day

    3/9/2026Senate
  12. Passed by for the day Block Vote (Voice Vote)

    3/6/2026Senate
  13. Constitutional reading dispensed Block Vote (on 2nd reading) (39-Y 0-N 0-A)

    3/6/2026Senate
  14. Rules suspended

    3/6/2026Senate
  15. Reported from General Laws and Technology (9-Y 6-N)

    3/4/2026Senate
  16. Assigned GL&T sub: Housing

    2/25/2026Senate
  17. Referred to Committee on General Laws and Technology

    2/3/2026Senate
  18. Constitutional reading dispensed (on 1st reading)

    2/3/2026Senate
  19. Read third time and passed House (65-Y 34-N 0-A)

    2/2/2026House
  20. Read second time and engrossed

    1/30/2026House
  21. Read first time

    1/29/2026House
  22. Reported from General Laws (15-Y 6-N)

    1/27/2026House
  23. Subcommittee recommends reporting (7-Y 3-N)

    1/22/2026House
  24. Assigned HGL sub: Housing/Consumer Protection

    1/19/2026House
  25. Referred to Committee on General Laws

    11/17/2025House

Bill Text

Related Bills

Back to State Legislation