59.1-543 - Local incentives.
§ 59.1-543. Local incentives.
A. Local governments submitting applications for enterprise zone designationshall propose local incentives that address the economic conditions withintheir locality and that will help stimulate real property improvements andnew job creation. Such local incentives include, but are not limited to: (i)reduction of permit fees; (ii) reduction of user fees; (iii) reduction ofbusiness, professional and occupational license tax; (iv) partial exemptionfrom taxation of substantially rehabilitated real estate pursuant to §58.1-3221; and (v) adoption of a local enterprise zone development taxationprogram pursuant to Article 4.2 (§ 58.1-3245.6 et seq.) of Chapter 32 ofTitle 58.1. The extent and duration of such incentives shall conform to therequirements of the Constitution of Virginia and the Constitution of theUnited States. In making application for designation as an enterprise zone,the application may also contain proposals for regulatory flexibility,including but not limited to: (a) special zoning districts, (b) permitprocess reform, (c) exemptions from local ordinances, and (d) other publicincentives proposed in the locality's application which shall be binding uponthe locality upon designation of the enterprise zone.
B. A locality may establish eligibility criteria for local incentives thatdiffer from the criteria required to qualify for the incentives provided inthis chapter.
(2005, cc. 863, 884.)