Prohibited acquisition of residential land;restrictions; civil penalty. Restricts any partnership, corporation,or real estate investment trust that manages funds pooled from investors,is a fiduciary to such investors, and has $50 million or more innet value or assets under management on any day during a taxableyear from acquiring any interest in residential land, as definedin the bill, in the Commonwealth and requires registration with the Secretary of the Commonwealth on or after July 1, 2024. The billrequires the Secretary to report annually by December 1 on the registrationsand any penalties assessed for failure to register and to submit such report to the Governor and the General Assembly. The bill alsorequires all real property tax bills to contain notice of such prohibitedbusiness ownership restrictions and registration requirements.
Sponsored bills
Property Owners' Association Act; managed conservation landscaping; unreasonable restrictions prohibited. Provides thatno association shall prohibit an owner from installing managed conservation landscaping, defined in the bill, upon such owner's property unlesssuch prohibition was recorded in the declaration for the association.The bill allows associations to establish reasonable restrictionsconcerning the management, design, and aesthetic guidelines for managedconservation landscaping features.
Commending Travis G. Hill.
Commending Daniel M. Gade.
Commending Sandra Gioia Treadway.
Celebrating the life of Janet Marie Brooking.
Commending Peter A. Blake.
Commending Scott McGeary.
Study; Department of Taxation; tax policy optionsfor reforming the litter tax; report. Directs the Departmentof Taxation, in conjunction with the Department of Environmental Quality, to study tax policy options for reforming the litter tax.
Commending Daniel M. Gade.