SB343 - Military centered community zones; localities may establish, by ordinance, one or more zones.

1 Co-Sponsor

Military centered community zones; local designation. Allows localities to establish, by ordinance, one or more military centered community zones, defined in the bill as a community that has a significant presence of military personnel living or working in the designated area and where such presence drives, or has the potential to drive, significant economic activity. The bill provides that a locality, or another political subdivision acting on behalf of the locality, may offer unique benefits to businesses looking to locate within a zone for the purpose of serving the needs of the military personnel, including reduction of certain fees and taxes. In addition, the bill provides that local governing bodies are authorized to enter into agreements for the payment of economic development incentive grants to such businesses. The bill also allows a governing body to provide for certain regulatory flexibility and incentives and provides that the establishment of a military centered community zone shall not preclude the area from also being designated as an enterprise zone or from receiving support under the Virginia Military Community Infrastructure Grant Program.