VirginiaSB10592025 Regular SessionSenate

Virginia Contractor Transaction Recovery Fund; claim limits, license threshold amounts.

Sponsored By: T. Travis Hackworth (Republican)

To Governor

Summary

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 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 HB 1707.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • T. Travis Hackworth

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 206 • No: 0

House vote • 2/7/2025

Passed House Block Vote

Yes: 94 • No: 0

House vote • 2/4/2025

Reported from General Laws

Yes: 21 • No: 0

Senate vote • 1/28/2025

Read third time and passed Senate Block Vote

Yes: 39 • No: 0

Senate vote • 1/24/2025

Constitutional reading dispensed Block Vote (on 1st reading)

Yes: 37 • No: 0

Senate vote • 1/22/2025

Reported from General Laws and Technology

Yes: 15 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0133)

    3/19/2025Governor
  2. Approved by Governor-Chapter 133 (Effective 07/01/25)

    3/19/2025Governor
  3. Governor's Action Deadline 11:59 p.m., March 24, 2025

    2/18/2025Governor
  4. Enrolled Bill Communicated to Governor on February 18, 2025

    2/18/2025Senate
  5. Signed by President

    2/13/2025Senate
  6. Fiscal Impact Statement from Department of Planning and Budget (SB1059)

    2/10/2025Senate
  7. Bill text as passed Senate and House (SB1059ER)

    2/10/2025Senate
  8. Enrolled

    2/10/2025Senate
  9. Signed by Speaker

    2/10/2025House
  10. Passed House Block Vote (94-Y 0-N)

    2/7/2025House
  11. Read third time

    2/7/2025House
  12. Read second time

    2/6/2025House
  13. Reported from General Laws (21-Y 0-N)

    2/4/2025House
  14. Referred to Committee on General Laws

    2/3/2025House
  15. Read first time

    2/3/2025House
  16. Placed on Calendar

    2/3/2025House
  17. Fiscal Impact Statement from Department of Planning and Budget (SB1059)

    1/29/2025Senate
  18. Read third time and passed Senate Block Vote (39-Y 0-N)

    1/28/2025Senate
  19. Engrossed by Senate

    1/27/2025Senate
  20. Read second time

    1/27/2025Senate
  21. Constitutional reading dispensed Block Vote (on 1st reading) (37-Y 0-N)

    1/24/2025Senate
  22. Passed by for the day

    1/24/2025Senate
  23. Rules suspended

    1/24/2025Senate
  24. Reported from General Laws and Technology (15-Y 0-N)

    1/22/2025Senate
  25. Referred to Committee on General Laws and Technology

    1/7/2025Senate

Bill Text

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