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Urban Public-Private Partnership Redevelopment Fund; funding requirements; report. Directs the Department of Housing and Community Development to review and develop criteria and guidelines for the administration of the Urban Public-Private Partnership Redevelopment grant program in consultation with the Virginia Association of Counties, the Virginia First Cities Coalition, the Virginia Municipal League, and the Virginia Economic Developers Association. The bill requires such criteria to include (i) award prioritization for (a) localities experiencing an above average and high level of fiscal stress as designated by the Commission on Local Government in its most recent Report on Comparative Revenue Capacity, Revenue Effort, and Fiscal Stress of Virginia's Cities and Counties and (b) localities experiencing a significant decrease in commercial real estate assessments and (ii) the amount and type of local matches with consideration of both monetary and non-monetary contribution requirements. The bill requires the Director of the Department to report the Department's findings to the Chairs of the Senate Committee on Finance and Appropriations, the Senate Committee on General Laws and Technology, the House Committee on Appropriations, and the House Committee on General Laws no later than November 1, 2026.
Introduced
Jan 13, 2026
Last Action
Mar 12, 2026
Session
VA 2026
Sponsors
1 primary · 0 co
Read third time
Passed House (96-Y 0-N 0-A)
Read second time
Reported from Appropriations (22-Y 0-N)
Reported from Rules and referred to Appropriations (18-Y 0-N)
Subcommittee recommends reporting and referring to Appropriations (5-Y 0-N)
Assigned HRUL sub: Studies Subcommittee
Referred to Committee on Rules
Read first time
Placed on Calendar
Read third time and passed Senate (40-Y 0-N 0-A)
Engrossed by Senate (Voice Vote)
Read second time
Finance and Appropriations Substitute agreed to
Engrossed by Senate - committee substitute
Constitutional reading dispensed (on 1st reading) (40-Y 0-N 0-A)
Passed by for the day
Passed by for the day (Voice Vote)
Rules suspended
Fiscal Impact Statement from Department of Planning and Budget (SB285)
Reported from Finance and Appropriations with substitute (13-Y 0-N)
Committee substitute printed 26106389D-S1
Fiscal Impact Statement from Department of Planning and Budget (SB285)
Reported from Local Government and rereferred to Finance and Appropriations (15-Y 0-N)
Referred to Committee on Local Government
Prefiled and ordered printed; Offered 01-14-2026 26102166D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Passed House (96-Y 0-N 0-A)