Bill Amendment: VA HB1398 | 2024 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Affordable housing; creates framework for localities to preserve housing.

Status: 2024-04-17 - House sustained Governor's veto [HB1398 Detail]

Download: Virginia-2024-HB1398-Governor_s_veto_explanation.html

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(HB1398)

GOVERNOR'S VETO

 

Pursuant to Article V, Section 6, of the Constitution of Virginia, I veto House Bill 1398, which grants localities a right of first refusal for affordable housing program participation changes and sales.

This bill would allow a locality the right to purchase affordable housing properties after the property owner has accepted an offer from a private party to sell it. A locality is also authorized to transfer this right to another private party that may be a competitor to the initial prospective purchaser. This bill would allow a locality to arbitrarily interfere in the private market and pick winners and losers.

Accordingly, I veto this bill.