VA SB296

Amends Virginia's affordable dwelling unit ordinance for counties with a county manager form of government, allowing zoning requirements for affordable housing or cash contributions for developments with density of 1.0 FAR or greater

Establishes new cash contribution ranges indexed to the Consumer Price Index for Housing in the Washington-Arlington-Alexandria MSA: $2.44-$4.88/sq ft for 0-1.0 FAR; $6.54-$13.08/sq ft for 1.0-3.0 FAR residential and commercial above 1.0 FAR; $13.08-$26.22/sq ft for residential above 3.0 FAR

Requires cash contributions to be commensurate with the value of on-site Affordable Dwelling Units and mandates an advisory board be appointed before amending cash contribution amounts in zoning ordinances

Specifies that zoning ordinance amendments shall not apply to special exception projects already accepted by the county manager prior to adoption of amendments

Delays effectiveness of the substantive provisions until reenacted by the 2027 General Assembly session