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HB1058 • 2026
Industrial development authorities; housing allowed in certain localities.
<p class=ldtitle>A BILL to amend and reenact §§ 15.2-4901 and 15.2-4902 of the Code of Virginia, relating to industrial development authorities in certain localities; housing.</p>
Housing
Enacted
This bill passed the Legislature and reached final enactment based on the latest official action.
- Sponsor
- Phillips
- Last action
- 2026-01-30
- Official status
- Continued
- Effective date
- Not listed
Plain English Breakdown
The bill summary does not provide details on how much funding will be available or specific requirements for issuing bonds, leaving this information unknown.
Industrial Development Authorities Can Help with Housing
This bill allows certain industrial development authorities in specific Virginia counties and cities to help build safe and affordable housing by issuing bonds for these projects.
What This Bill Does
- Allows the Counties of Halifax, Henry, and Pittsylvania and the Cities of Danville and Martinsville to use their industrial development authority powers for building single or multifamily residences to promote safe and affordable housing.
- Gives these authorities the ability to issue bonds associated with the construction of affordable housing.
Who It Names or Affects
- Industrial development authorities in Halifax, Henry, and Pittsylvania Counties, and Danville and Martinsville Cities
- People who need safe and affordable homes in those areas
Terms To Know
- industrial development authority
- An organization that helps create jobs and economic growth by providing financial support for businesses.
Limits and Unknowns
- The bill only applies to specific localities in Virginia.
- It does not specify how much funding will be available or what the exact requirements are for issuing bonds.
Amendments
These notes stay tied to the official amendment files and metadata from the legislature.
Counties, Cities and Towns Amendment
Plain English: The amendment adds 'economic development authorities' to the existing references of 'industrial development authorities' in certain sections of Virginia's Code.
- Adds 'economic development authorities' after 'industrial development authorities' at specific lines in the bill.
- The amendment does not provide details on how these new economic development authorities will operate or what additional powers they might have beyond those of industrial development authorities.
Subcommittee #3 Subcommittee Amendment
Plain English: The amendment adds 'economic development authorities' to the existing references of 'industrial development authorities' in certain sections of Virginia's Code.
- Adds 'economic development authorities' after 'industrial development authorities' at specific lines in the bill.
- The amendment does not provide details on how these new references will affect existing laws or regulations.
Bill History
-
2026-01-30
Counties, Cities and Towns
Continued to 2027 in Counties, Cities and Towns (Voice Vote)
-
2026-01-29
Subcommittee #3
Subcommittee recommends continuing to 2027 (Voice Vote)
-
2026-01-29
Subcommittee #3
House subcommittee offered
-
2026-01-28
Subcommittee #3
Assigned HCCT sub: Subcommittee #3
-
2026-01-14
House
Prefiled and ordered printed; Offered 01-14-2026 26104682D
-
2026-01-14
Counties, Cities and Towns
Referred to Committee on Counties, Cities and Towns
Official Summary Text
Industrial development authorities in certain localities; housing.
Allows industrial development authorities in the Counties of Halifax, Henry, and Pittsylvania and the Cities of Danville and Martinsville to exercise their powers with respect to facilities used primarily for single or multifamily residences in order to promote safe and affordable housing in the Commonwealth. Under current law, such powers may be exercised only in a locality where a housing authority has not been activated. The bill also grants industrial development authorities in such localities the power to issue bonds associated with the construction of affordable housing.
Current Bill Text
Read the full stored bill text
HB 1058
SUBCOMMITTEE
1. Line 5, introduced, Title, after
authorities
insert
and economic development authorities
SUBCOMMITTEE
2. Line 107, introduced, after
authorities
insert
and economic development authorities
SUBCOMMITTEE
3. Line 120, introduced, after
authorities
insert
and economic development authorities