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New law requires annual reports and meetings on revenue-sharing agreements
The Daily Progress Thursday, April 05, 2018 at 12:01 a.m.

Del. R. Steven Landes, R-Weyers Cave, announced Thursday morning that Gov. Ralph Northam has signed a bill that will require Charlottesville and Albemarle County officials to hold an annual meeting about the revenue-sharing agreement that costs the county nearly $16 million each year.

The adopted bill will not have a direct impact on the agreement as it exists today.

The meeting requirement for House Bill 1148 applies to any localities with a so-called growth-sharing agreement that has been in effect for at least 10 years and includes annual payments that exceed $5 million. All localities that are a recipient of funding per such an agreement will also prepare an annual report on how the money is used.

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