VirginiaHB4742026 Regular SessionHouseWALLET

Real estate with delinquent taxes or liens; apptmt. of special commissioner, increases value.

Sponsored By: Sam Rasoul (Democratic)

Signed by Governor

Summary

Real estate with delinquent taxes or liens; appointment of special commissioner; increases required value. Increases from $75,000 to $125,000 the maximum assessment that an individual parcel of land may be valued at to be subject to a locality's appointment of a special commissioner to convey property with delinquent taxes or liens to the locality, to the locality's land bank entity, or to an existing nonprofit entity designated by the locality to carry out the functions of a land bank entity in lieu of sale at public auction. The bill contains technical amendments.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

More tax-delinquent properties qualify for direct transfer

Virginia raises the assessed-value ceiling from $75,000 to $125,000 for transferring qualifying properties without a public auction. The property must already be in the applicable court sale process. It must have overdue real-estate taxes or a local government lien for building removal, repairs, securing buildings, or clearing trash or growth. One of three debt tests must apply: combined taxes and liens exceed 50% of assessed value; taxes alone exceed 25%; or combined taxes and liens exceed 25% for a property with a legally defined derelict building. The combined-debt tests include penalties and accumulated interest. A locality can ask the circuit court to appoint a special commissioner to sign the deed. The property can go to the locality, its land bank, or a designated existing nonprofit serving as a land bank. Owners and other interested parties receive notice and a chance to present evidence and arguments before appointment. Any surplus from a later sale goes to lienholders and the former owner or their legal successors, as applicable law requires. The former owner cannot be charged a remaining shortfall after transfer. A receiving land bank or nonprofit must sell to an independent buyer, within a reasonable time after development if it develops first. If it keeps the property instead, it must pay the surplus that a sale and lawful distribution would produce. Neither a locality's request nor court approval is guaranteed.

Sponsors & Cosponsors

Sponsor

  • Sam Rasoul

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 220 • No: 0

Senate vote • 2/27/2026

Passed Senate Block Vote

Yes: 37 • No: 0

Senate vote • 2/26/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote • 2/26/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote • 2/25/2026

Reported from Finance and Appropriations

Yes: 14 • No: 0

House vote • 2/3/2026

Read third time and passed House

Yes: 97 • No: 0

House vote • 1/28/2026

Reported from Finance with amendment(s)

Yes: 22 • No: 0

House vote • 1/27/2026

Subcommittee recommends reporting with amendment(s)

Yes: 10 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0151)

    4/6/2026Governor
  2. Approved by Governor-Chapter 151 (effective 7/1/2026)

    4/6/2026Governor
  3. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/10/2026Governor
  4. Enrolled Bill communicated to Governor on March 10, 2026

    3/10/2026House
  5. Fiscal Impact statement From TAX (3/6/2026 11:18 am)

    3/6/2026House
  6. Bill text as passed House and Senate (HB474ER)

    3/4/2026House
  7. Enrolled

    3/4/2026House
  8. Signed by President

    3/4/2026Senate
  9. Signed by Speaker

    3/4/2026House
  10. Passed Senate Block Vote (37-Y 0-N 0-A)

    2/27/2026Senate
  11. Read third time

    2/27/2026Senate
  12. Passed by for the day Block Vote (Voice Vote)

    2/26/2026Senate
  13. Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

    2/26/2026Senate
  14. Rules suspended

    2/26/2026Senate
  15. Reported from Finance and Appropriations (14-Y 0-N)

    2/25/2026Senate
  16. Fiscal Impact statement From TAX (2/17/2026 3:41 pm)

    2/17/2026House
  17. Referred to Committee on Finance and Appropriations

    2/4/2026Senate
  18. Constitutional reading dispensed (on 1st reading)

    2/4/2026Senate
  19. Read third time and passed House (97-Y 0-N 0-A)

    2/3/2026House
  20. Moved from Uncontested Calendar to Regular Calendar

    2/2/2026House
  21. Engrossed by House as amended

    2/2/2026House
  22. committee amendments agreed to

    2/2/2026House
  23. Read second time

    2/2/2026House
  24. Read first time

    1/30/2026House
  25. Reported from Finance with amendment(s) (22-Y 0-N)

    1/28/2026House

Bill Text

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