SB 1435: Eminent domain powers of public service corporations; compensation to the Commonwealth & localities.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Certain eminent domain powers; conservation easements; compensation to the Commonwealth and localities. Requires any person, defined in the bill, if it takes by condemnation proceedings any land or right-of-way or similar interest therein that is subject to a conservation easement, to compensate (i) the Commonwealth in an amount equal to the value of any tax credit received by the landowner under the provisions of the Virginia Land Conservation Incentives Act of 1999 during the pendency of the conservation easement and (ii) the locality in which the right-of-way is located (a) in an amount of any property tax avoided by the landowner during the pendency of the conservation easement and (b) if the right-of-way is located on property that is registered with the Virginia Landmarks Register and the National Register of Historic Places, in an amount equal to the additional value conferred upon the property during the period that property was registered.

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. February 14, 2025Tabled in Courts of Justice (15-Y 5-N)
2. February 10, 2025Subcommittee recommends reporting with substitute (5-Y 3-N)
3. February 10, 2025Fiscal Impact Statement from Department of Planning and Budget (SB1435)
4. February 7, 2025Assigned Courts sub: Civil
5. February 6, 2025Referred to Committee for Courts of Justice
6. February 6, 2025Read first time
7. February 6, 2025Placed on Calendar
8. February 3, 2025Passed Senate (40-Y 0-N)
9. February 3, 2025Constitutional reading dispensed (on 3rd reading) (40-Y 0-N)
10. February 3, 2025Rules suspended
11. February 3, 2025Engrossed by Senate - committee substitute
12. February 3, 2025Courts of Justice Substitute agreed to

Showing 12 most recent of 21 actions. Full history