Bill > SB488

This bill requires all localities, with some exceptions for those already experiencing significant housing growth, to increase their total housing stock by an average of 1.5 percent annually over a five-year period beginning January 1, 2028, to meet a total 7.5 percent growth target. To achieve this, each locality must develop a housing growth plan by July 1, 2027, which should best serve the locality's needs while meeting the target growth rates. This plan can include any strategy the locality deems appropriate, but to demonstrate a good faith effort, it must include modeling showing the plan will result in permitting the required number of housing units and either a zoning ordinance allowing by-right development of multifamily housing on at least 75 percent of land in commercial or business districts, or at least three specific housing growth strategies listed in the bill, such as eliminating minimum lot sizes, reducing parking requirements, increasing building height limits, or allowing accessory dwelling units. After January 1, 2033, if a residential development application that would increase housing supply is rejected, the applicant can appeal the decision to the board of zoning appeals, which will have the authority to overturn local decisions and approve applications if certain conditions are met, particularly if the locality has failed to meet its growth targets or has not acted in good faith. The bill also allows localities that meet their housing growth targets to impose enhanced civil penalties for failure to register vacant buildings.

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https://lis.virginia.gov/bill-details/20261/SB488