# Virginia HB316: Virginia Stock Corporation Act; changes to Act.

Virginia HB316, Virginia Stock Corporation Act; changes to Act., is a 2026 Regular Session House bill sponsored by Patrick A. Hope (Democratic); status signed, last action 2026-04-08 (Acts of Assembly Chapter text (CHAP0383)) (as of 2026-10-12).

- Canonical: https://policyrisk.com/state-bill/VA-HB316-2026
- As of: 2026-10-12
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB316
- State: Virginia
- Session: 2026 Regular Session
- Title: Virginia Stock Corporation Act; changes to Act.
- Status: signed
- Chamber: House
- Introduced: 2026-01-09
- Last action: 2026-04-08, Acts of Assembly Chapter text (CHAP0383)
- Sponsor: Patrick A. Hope (Democratic)
- Cosponsors: 0
- Touches household money: no
- Roll calls: 12 (493 yes, 1 no in all)
- Economic provisions PRIA read: 0

## Summary

Virginia Stock Corporation Act. Makes various changes to the Virginia Stock Corporation Act, many of which conform the Act to recent changes to the Model Business Corporation Act produced by the Corporate Laws Committee of the American Bar Association's Business Law Section. Among other things, the bill (i) addresses the authority of a board of directors to delegate authority with respect to the issuance of shares to a committee of the board and one or more of the corporation's officers, (ii) removes the requirement for the cessation of shareholder agreements when a corporation becomes a public corporation, (iii) requires a corporation to maintain in its records certain shareholder agreements, (iv) removes the requirement for a corporation to maintain its financial statements for the three most recent fiscal years, and (v) authorizes a corporation to submit a matter to a vote of its shareholders even if, after approving the matter, the board of directors determines it no longer recommends such matter. This bill is identical to SB 479.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Patrick A. Hope (Democratic), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-03-12 | House | Senate amendments agreed to by House | pass | 97 | 0 |   |
| 2026-03-11 | Senate | Passed Senate with amendments Block Vote | pass | 39 | 0 |   |
| 2026-03-11 | Senate | Reconsideration of Senate passage agreed to by Senate Block Vote | pass | 40 | 0 |   |
| 2026-03-11 | Senate | Commerce and Labor Amendments agreed to | pass | 0 | 0 |   |
| 2026-03-11 | Senate | Passed Senate with amendments Block Vote | pass | 40 | 0 |   |
| 2026-03-10 | Senate | Constitutional reading dispensed Block Vote (on 2nd reading) | pass | 37 | 0 |   |
| 2026-03-10 | Senate | Passed by for the day Block Vote (Voice Vote) | pass | 0 | 0 |   |
| 2026-03-09 | Senate | Reported from Commerce and Labor with amendments | pass | 14 | 0 |   |
| 2026-02-04 | House | Passed House Block Vote | pass | 98 | 0 |   |
| 2026-02-04 | House | Read third time and passed House Block Vote | pass | 97 | 1 |   |
| 2026-01-29 | House | Reported from Labor and Commerce with substitute | pass | 22 | 0 |   |
| 2026-01-27 | House | Subcommittee recommends reporting with substitute | pass | 9 | 0 |   |

## Actions (39)

- 2026-04-08: Acts of Assembly Chapter text (CHAP0383) (Governor)
- 2026-04-08: Approved by Governor-Chapter 383 (effective 7/1/2026) (Governor)
- 2026-04-06: Fiscal Impact Statement from State Corporation Commission (HB316) (House)
- 2026-03-31: Governor's Action Deadline 11:59 p.m., April 13, 2026 (Governor)
- 2026-03-31: Enrolled Bill communicated to Governor on March 31, 2026 (House)
- 2026-03-31: Signed by Speaker (House)
- 2026-03-30: Bill text as passed House and Senate (HB316ER) (House)
- 2026-03-30: Enrolled (House)
- 2026-03-30: Signed by President (Senate)
- 2026-03-12: Senate amendments agreed to by House (97-Y 0-N 0-A) (House)
- 2026-03-11: Passed Senate with amendments Block Vote (40-Y 0-N 0-A) (Senate)
- 2026-03-11: Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A) (Senate)
- 2026-03-11: Passed Senate with amendments Block Vote (39-Y 0-N 0-A) (Senate)
- 2026-03-11: Commerce and Labor Amendments agreed to (Senate)
- 2026-03-11: Engrossed by Senate as amended (Senate)
- 2026-03-11: Read third time (Senate)
- 2026-03-10: Passed by for the day Block Vote (Voice Vote) (Senate)
- 2026-03-10: Constitutional reading dispensed Block Vote (on 2nd reading) (37-Y 0-N 0-A) (Senate)
- 2026-03-10: Rules suspended (Senate)
- 2026-03-09: Senate committee offered (Senate)
- 2026-03-09: Reported from Commerce and Labor with amendments (14-Y 0-N) (Senate)
- 2026-02-05: Referred to Committee on Commerce and Labor (Senate)
- 2026-02-05: Constitutional reading dispensed (on 1st reading) (Senate)
- 2026-02-04: Passed House Block Vote (98-Y 0-N 0-A) (House)
- 2026-02-04: Reconsideration of passage agreed to by House (House)
- 2026-02-04: Read third time and passed House Block Vote (97-Y 1-N 0-A) (House)
- 2026-02-03: Engrossed by House - committee substitute (House)
- 2026-02-03: committee substitute agreed to (House)
- 2026-02-03: Read second time (House)
- 2026-02-02: Read first time (House)
- 2026-02-01: Fiscal Impact Statement from State Corporation Commission (HB316) (House)
- 2026-01-29: Committee substitute printed 26106247D-H1 (House)
- 2026-01-29: Reported from Labor and Commerce with substitute (22-Y 0-N) (House)
- 2026-01-27: House subcommittee offered (House)
- 2026-01-27: Subcommittee recommends reporting with substitute (9-Y 0-N) (House)
- 2026-01-25: Fiscal Impact Statement from State Corporation Commission (HB316) (House)
- 2026-01-19: Assigned HCL sub: Subcommittee #1 (House)
- 2026-01-09: Referred to Committee on Labor and Commerce (House)
- 2026-01-09: Prefiled and ordered printed; Offered 01-14-2026 26103481D (House)

## Bill text

- Chaptered, 2026-04-08: [HTML](https://lis.blob.core.windows.net/files/1217771.HTML), [PDF](https://lis.blob.core.windows.net/files/1217770.PDF)
- Enrolled, 2026-03-30: [HTML](https://lis.blob.core.windows.net/files/1213432.HTML), [PDF](https://lis.blob.core.windows.net/files/1213431.PDF)
- Amendment, 2026-03-11: [HTML](https://lis.blob.core.windows.net/files/1205921.HTML)
- Amendment, 2026-03-10: [HTML](https://lis.blob.core.windows.net/files/1202060.HTML)
- Amendment, 2026-03-09: [HTML](https://lis.blob.core.windows.net/files/1200650.HTML)
- Substitute, 2026-01-29: [HTML](https://lis.blob.core.windows.net/files/1103463.HTML), [PDF](https://lis.blob.core.windows.net/files/1103462.PDF)
- Substitute, 2026-01-28: [HTML](https://lis.blob.core.windows.net/files/1098938.HTML), [PDF](https://lis.blob.core.windows.net/files/1098937.PDF)
- Substitute, 2026-01-27: [HTML](https://lis.blob.core.windows.net/files/1098310.HTML), [PDF](https://lis.blob.core.windows.net/files/1098309.PDF)
- Introduced, 2026-01-09: [HTML](https://lis.blob.core.windows.net/files/1083814.HTML), [PDF](https://lis.blob.core.windows.net/files/1083813.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1217771.HTML)
- [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1217770.PDF)
- [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1213432.HTML)
- [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1213431.PDF)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1205921.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1202060.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1200650.HTML)
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1103463.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1103462.PDF)
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1098938.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1098937.PDF)
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1098310.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1098309.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1083814.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1083813.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/VA-HB316-2026 (as of 2026-10-12).