HB1376
Urban Public-Private Partnership Redevelopment Fund; funding requirements, report.
Status:
In House
Latest Action:
Jan. 30, 2026
House: Continued to next session in Counties, Cities and Towns (Voice Vote)
Chief Patron:
Gretchen M Bulova (D)
Session:
2026 Regular Session
Summary
As Introduced. Urban Public-Private Partnership Redevelopment Fund; funding requirements; report.
Revises the Urban Public-Private Partnership Redevelopment Fund by expanding the qualifying private entities available for partnership with a local government for the redevelopment of local sites, removing the existing $500,000 grant cap for such local government, and eliminating the requirement that each grant be conditioned upon a 100 percent match ... (More) of funds by the local government. The bill requires the Department of Housing and Community Development (the Department), on or before December 1 of each year, to submit a report to the Secretary of Commerce and Trade, the Governor, and the Chairs of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations, including the number of projects funded and the costs of the Fund. In addition, the bill directs the Department to convene a work group to develop appropriate criteria and guidelines for the administration of the grant program established by the Fund, including for (i) how to prioritize awards for (a) localities experiencing an above average and high level of fiscal stress as designated by the Commission on Local Government and (b) localities experiencing a significant decrease in commercial real estate assessments and (ii) the amount and type of local match, including both requirements that consider monetary contributions and non-monetary contributions. The bill requires the work group to include representatives of the Department, the Virginia Association of Counties, the Virginia First Cities Coalition, the Virginia Municipal League, and the Virginia Economic Developers Association and to report its findings and recommendations to the General Assembly by November 1, 2026. Under current law, the Board of Housing and Community Development is directed to develop guidelines for administration of the Fund. Finally, the bill repeals the Housing Revitalization Zone Act. (Less)-
Bill History
- 01/21/2026 - House: Presented and ordered printed 26102021D
- 01/21/2026 - House: Referred to Committee on Counties, Cities and Towns
- 01/23/2026 - House: Fiscal Impact Statement from Department of Planning and Budget (HB1376)
- 01/28/2026 - House: Assigned HCCT sub: Subcommittee #1
- 01/29/2026 - House: Placed on Counties, Cities and Towns Agenda
- 01/30/2026 - House: Subcommittee recommends continuing to (Voice Vote)
- 01/30/2026 - House: Continued to next session in Counties, Cities and Towns (Voice Vote)
