HB1707
Virginia Contractor Transaction Recovery Fund; claim limits; license threshold amounts.
Status:
Enacted
Latest Action:
March 19, 2025
Acts of Assembly Chapter text (CHAP0127)
Chief Patron:
David Bulova (D)
Session:
2025 Regular Session
Summary
As Introduced. Virginia Contractor Transaction Recovery Fund; claim limits; license threshold amounts.
Increases from $20,000 to $30,000 per claim the individual limit of claims against the Virginia Contractor Transaction Recovery Fund based upon an unpaid judgment arising out of the improper or dishonest conduct of a licensed contractor in connection with a single transaction involving contracting and increases from $40,000 to $100,000 ... (More) during any biennium the aggregate claim limit against a single licensed contractor. The bill also raises the thresholds for the value of single contracts or projects and the total value of all construction, removal, repair, or improvements undertaken by a contractor in a 12-month period that govern each class of contractor's licenses. This bill is identical to SB 1059. (Less)-
Bill History
- 01/04/2025 - House: Prefiled and ordered printed; Offered 01-08-2025 25100918D
- 01/04/2025 - House: Referred to Committee on General Laws
- 01/13/2025 - House: Assigned GL sub: Professions/Occupations and Administrative Process
- 01/14/2025 - House: Placed on General Laws Agenda
- 01/16/2025 - House: Subcommittee recommends reporting (8-Y 0-N)
- 01/20/2025 - House: Placed on General Laws Agenda
- 01/21/2025 - House: Reported from General Laws (21-Y 0-N)
- 01/23/2025 - House: Read first time
- 01/24/2025 - House: Read second time and engrossed
- 01/27/2025 - House: Read third time and passed House (97-Y 0-N)
- 01/28/2025 - House: Fiscal Impact Statement from Department of Planning and Budget (HB1707)
- 01/28/2025 - Senate: Constitutional reading dispensed (on 1st reading)
- 01/28/2025 - Senate: Referred to Committee on General Laws and Technology
- 02/05/2025 - Senate: Reported from General Laws and Technology (12-Y 0-N)
- 02/07/2025 - Senate: Rules suspended
- 02/07/2025 - Senate: Constitutional reading dispensed (on 2nd reading) (38-Y 0-N)
- 02/07/2025 - Senate: Passed by for the day
- 02/10/2025 - Senate: Read third time
- 02/10/2025 - Senate: Passed Senate (39-Y 0-N)
- 02/12/2025 - House: Enrolled
- 02/12/2025 - House: Bill text as passed House and Senate (HB1707ER)
- 02/12/2025 - House: Fiscal Impact Statement from Department of Planning and Budget (HB1707)
- 02/12/2025 - House: Signed by Speaker
- 02/15/2025 - Senate: Signed by President
- 02/18/2025 - House: Enrolled Bill communicated to Governor on February 18, 2025
- 02/18/2025 - Governor's Action Deadline 11:59 p.m., March 24, 2025
- 03/19/2025 - Approved by Governor-Chapter 127 (Effective 07/01/25)
- 03/19/2025 - Acts of Assembly Chapter text (CHAP0127)
