VirginiaHB17962025 Regular SessionHouse

Corporations; creates a regulatory framework for decentralized autonomous organizations.

Sponsored By: Dan I. Helmer (Democratic)

To Governor

Summary

Corporations; decentralized autonomous organizations. Creates a regulatory framework for decentralized autonomous organizations, defined in the bill as a distinct legal entity that operates through blockchain-based governance frameworks, incorporating self-executing smart contracts and decentralized decision-making mechanisms. The bill provides that an entity seeking to become a decentralized autonomous organization must file its articles of organization with the State Corporation Commission in order to seek a certificate of organization and requires such articles of organization to designate an operator of record. The bill permits a limited liability company to elect to become a decentralized autonomous organization with management vested in its members or smart contracts and contains requirements for its articles of organization and operating agreements. The bill also contains provisions governing the relationships and rights of members of a decentralized autonomous organization and for the dissolution of a decentralized autonomous organization. The provisions of the bill do not become effective unless reenacted by the 2026 Session of the General Assembly.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Dan I. Helmer

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 427 • No: 148

House vote • 4/2/2025

House rejected Governor's recommendation

Yes: 28 • No: 68

Senate vote • 2/20/2025

Passed Senate with amendments

Yes: 20 • No: 19

Senate vote • 2/20/2025

Defeated by Senate

Yes: 17 • No: 22

Senate vote • 2/20/2025

Reconsideration of defeated action agreed to by Senate

Yes: 38 • No: 0

Senate vote • 2/20/2025

Defeated by Senate, Chair Votes No

Yes: 19 • No: 19 • Other: 1

House vote • 2/20/2025

Senate Amendments agreed to by House

Yes: 85 • No: 10

Senate vote • 2/20/2025

Reconsideration of defeated action agreed to by Senate

Yes: 39 • No: 0

Senate vote • 2/19/2025

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote • 2/17/2025

Reported from Finance and Appropriations with amendment

Yes: 14 • No: 0

Senate vote • 2/10/2025

Reported from Commerce and Labor with amendment and rereferred to Finance and Appropriations

Yes: 11 • No: 0 • Other: 4

House vote • 1/31/2025

Read third time and passed House

Yes: 87 • No: 8

House vote • 1/27/2025

Reported from Communications, Technology and Innovation with substitute

Yes: 20 • No: 2

House vote • 1/22/2025

Subcommittee recommends reporting with substitute and referring to Labor and Commerce

Yes: 9 • No: 0

Actions Timeline

  1. Vetoed by Governor

    5/2/2025Governor
  2. Governor's Action Deadline 11:59 p.m., May 2, 2025

    4/2/2025Governor
  3. Communicated to Governor

    4/2/2025House
  4. House rejected Governor's recommendation (28-Y 68-N)

    4/2/2025House
  5. Governor's recommendation received by House

    3/24/2025Governor
  6. Governor's substitute printed (HB1796H2)

    3/24/2025House
  7. Governor's Action Deadline 11:59 p.m., March 24, 2025

    3/11/2025Governor
  8. Enrolled Bill communicated to Governor on March 11, 2025

    3/11/2025House
  9. Signed by President

    3/10/2025Senate
  10. Enrolled

    3/7/2025House
  11. Enrolled

    3/7/2025House
  12. Signed by Speaker

    3/7/2025House
  13. Passed Senate with amendments (20-Y 19-N)

    2/20/2025Senate
  14. Reconsideration of defeated action agreed to by Senate (39-Y 0-N)

    2/20/2025Senate
  15. Defeated by Senate (19-Y 19-N 1-A), Chair Votes No

    2/20/2025Senate
  16. Reconsideration of defeated action agreed to by Senate (39-Y 0-N)

    2/20/2025Senate
  17. Defeated by Senate (17-Y 22-N)

    2/20/2025Senate
  18. Engrossed by Senate as amended

    2/20/2025Senate
  19. Finance and Appropriations Amendment agreed to

    2/20/2025Senate
  20. Commerce and Labor Amendment agreed to

    2/20/2025Senate
  21. Read third time

    2/20/2025Senate
  22. Senate Amendments agreed to by House (85-Y 10-N)

    2/20/2025House
  23. Passed by temporarily

    2/20/2025Senate
  24. Reading of amendment waived

    2/20/2025Senate
  25. Reading of amendment waived

    2/20/2025Senate

Bill Text

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