CHAPTER 386
An Act to amend and reenact § 15.2-4905 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 15.2-958.4:1 , relating to local authority; affordable housing performance grant programs.
[H 352]
Approved April 8, 2026
Be it enacted by the General Assembly of Virginia:
1. That § 15.2-4905 of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding a section numbered 15.2-958.4:1 as follows:
§ 15.2-958.4:1 . Affordable housing performance grant programs.
A. As used in this section:
"Affordable housing" means the same as that term is defined in § 15.2-2201 .
"Applicant" means the record owner of real property that is seeking the award of an affordable housing performance grant for a qualifying property.
"Authority" means any locality's industrial development authority or economic development authority established by ordinance pursuant to § 15.2-4903 .