Section 495. Redesignation of certain joint enterprise zones

A. Existing joint enterprise zones consisting of two localities may be redesignated for the purpose of expanding the zone provided (i) all of the local governing bodies of the localities in which the proposed redesignated zone will be located have submitted resolutions to the department supporting the proposed redesignation and application for redesignation of the joint enterprise zone and (ii) the area of the locality added to the redesignated zone is contiguous to the existing joint enterprise zone and includes a revenue-sharing district that has experienced the loss of 900 permanent full-time positions within a 12-month period.

B. When a county or city was previously added to an existing enterprise zone to create a joint enterprise zone, the department shall redesignate the enterprise zone when the term of the joint enterprise zone expires. The duration of the enterprise zone redesignated pursuant to this subsection shall be equal to the length of time the original enterprise zone existed before the county or city was added to create the joint enterprise zone.

C. Any redesignation of an existing joint enterprise zone shall be in compliance with all applicable regulations of the Board of Housing and Community Development.

Historical Notes

Derived from Volume 27, Issue 26, eff. September 28, 2011; amended, Virginia Register Volume 29, Issue 26, eff. September 26, 2013.

Statutory Authority

§ 59.1-541 of the Code of Virginia.