# Virginia SB1076: Phase I Utilities; securitized asset costs, rate increases in certain months prohibited, etc. Virginia SB1076, Phase I Utilities; securitized asset costs, rate increases in certain months prohibited, etc., is a 2025 Regular Session Senate bill sponsored by Mark J. Peake (Republican); status failed, last action 2025-03-24 (Fiscal Impact Statement from State Corporation Commission (SB1076)) (as of 2026-10-17). - Canonical: https://policyrisk.com/state-bill/VA-SB1076-2025 - As of: 2026-10-17 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Virginia SB1076 - State: Virginia - Session: 2025 Regular Session - Title: Phase I Utilities; securitized asset costs, rate increases in certain months prohibited, etc. - Status: failed - Chamber: Senate - Introduced: 2025-01-07 - Last action: 2025-03-24, Fiscal Impact Statement from State Corporation Commission (SB1076) - Sponsor: Mark J. Peake (Republican) - Cosponsors: 0 - Touches household money: no - Roll calls: 10 (405 yes, 57 no in all) - Economic provisions PRIA read: 0 ## Summary Phase I Utilities; securitized asset costs. Authorizes Appalachian Power to petition the State Corporation Commission for a financing order for securitized asset costs, as defined in the bill. The bill creates the securitized asset cost charge and provides that the revenues generated by this charge, known as securitized asset cost property, are a property right that can be transferred and pledged as security for the securitized asset cost bonds. The bill establishes the procedures for creating, perfecting, and enforcing the security interest in securitized asset cost property. The bill also prohibits rate increases for Appalachian Power during the months of November through February and prohibits rate adjustment clauses from taking effect on customer bills between the months of November through February. The bill prohibits Appalachian Power from charing a residential customer any interest or late fees between July 1, 2025, and December 31, 2025, and from charging a residential customer any reconnection fees between July 1, 2025, and March 1, 2026. The bill also provides that in any rate proceeding for Appalachian Power, the State Corporation Commission shall include an invitation for public comment. ## Bill overview No economic impacts identified for this bill. ## Sponsors and cosponsors - Sponsor: Mark J. Peake (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-02-22 | House | Conference report agreed to by House | pass | 97 | 0 | | | 2025-02-22 | Senate | Conference report agreed to by Senate | pass | 39 | 0 | | | 2025-02-20 | Senate | Senate acceded to request Block Vote | pass | 38 | 0 | | | 2025-02-19 | Senate | House substitute rejected by Senate | fail | 0 | 40 | | | 2025-02-18 | House | Passed House with substitute | pass | 81 | 15 | | | 2025-02-13 | House | Reported from Labor and Commerce with substitute | pass | 20 | 1 | | | 2025-02-04 | Senate | Passed Senate | pass | 39 | 1 | | | 2025-02-04 | Senate | Constitutional reading dispensed Block Vote (on 3rd reading) | pass | 40 | 0 | | | 2025-02-04 | Senate | Constitutional reading dispensed Block Vote (on 1st reading) | pass | 40 | 0 | | | 2025-02-03 | Senate | Reported from Commerce and Labor | pass | 11 | 0 | 4 | ## Actions (47) - 2025-03-24: Fiscal Impact Statement from State Corporation Commission (SB1076) (Senate) - 2025-03-24: Acts of Assembly Chapter text (CHAP0597) (Governor) - 2025-03-24: Approved by Governor-Chapter 597 (Effective 07/01/25) (Governor) - 2025-03-11: Governor's Action Deadline 11:59 p.m., March 24, 2025 (Governor) - 2025-03-11: Enrolled Bill Communicated to Governor on March 11, 2025 (Senate) - 2025-03-10: Signed by President (Senate) - 2025-03-07: Bill text as passed Senate and House (SB1076ER) (Senate) - 2025-03-07: Enrolled (Senate) - 2025-03-07: Signed by Speaker (House) - 2025-02-22: Conference report agreed to by Senate (39-Y 0-N) (Senate) - 2025-02-22: Conference substitute printed 25108065D-S2 (Senate) - 2025-02-22: Amended by conference committee - 2025-02-22: Passed by temporarily (Senate) - 2025-02-22: Conference report agreed to by House (97-Y 0-N) (House) - 2025-02-20: Senate acceded to request Block Vote (38-Y 0-N) (Senate) - 2025-02-20: Senators: Peake, Deeds, McPike (Senate) - 2025-02-20: Conferees appointed by Senate (Senate) - 2025-02-20: Delegates: Shin, Mundon King, Ballard (House) - 2025-02-20: Conferees appointed by House (House) - 2025-02-20: House requested conference committee (House) - 2025-02-20: House insisted on substitute (House) - 2025-02-19: House substitute rejected by Senate (0-Y 40-N) (Senate) - 2025-02-18: Passed House with substitute (81-Y 15-N) (House) - 2025-02-18: Engrossed by House - committee substitute (House) - 2025-02-18: Labor and Commerce Substitute agreed to (House) - 2025-02-18: Read third time (House) - 2025-02-17: Read second time (House) - 2025-02-13: Fiscal Impact Statement from State Corporation Commission (SB1076) (Senate) - 2025-02-13: Committee substitute printed 25107225D-H1 (House) - 2025-02-13: Reported from Labor and Commerce with substitute (20-Y 1-N) (House) - 2025-02-07: Read first time (House) - 2025-02-07: Referred to Committee on Labor and Commerce (House) - 2025-02-07: Placed on Calendar (House) - 2025-02-04: Passed Senate (39-Y 1-N) (Senate) - 2025-02-04: Constitutional reading dispensed Block Vote (on 3rd reading) (40-Y 0-N) (Senate) - 2025-02-04: Rules suspended (Senate) - 2025-02-04: Engrossed by Senate - floor substitute (Senate) - 2025-02-04: Senator Deeds, R. Creigh Substitute agreed to (Senate) - 2025-02-04: Reading of substitute waived (Senate) - 2025-02-04: Read second time (Senate) - 2025-02-04: Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N) (Senate) - 2025-02-04: Rules suspended (Senate) - 2025-02-04: Floor substitute printed 25106773D-S1 (Deeds) (Senate) - 2025-02-03: Reported from Commerce and Labor (11-Y 0-N 4-A) (Senate) - 2025-01-27: Fiscal Impact Statement from State Corporation Commission (SB1076) (Senate) - 2025-01-07: Referred to Committee on Commerce and Labor (Senate) - 2025-01-07: Prefiled and ordered printed; Offered 01-08-2025 25102964D (Senate) ## Bill text - Chaptered, 2025-03-24: [HTML](https://lis.blob.core.windows.net/files/1078078.HTML), [PDF](https://lis.blob.core.windows.net/files/1078077.PDF) - Enrolled, 2025-03-07: [HTML](https://lis.blob.core.windows.net/files/1069312.HTML), [PDF](https://lis.blob.core.windows.net/files/1069311.PDF) - Conference Report, 2025-02-22: [HTML](https://lis.blob.core.windows.net/files/1067785.HTML) - Substitute, 2025-02-22: [HTML](https://lis.blob.core.windows.net/files/1067816.HTML), [PDF](https://lis.blob.core.windows.net/files/1067815.PDF) - Substitute, 2025-02-13: [HTML](https://lis.blob.core.windows.net/files/1052139.HTML), [HTML](https://lis.blob.core.windows.net/files/1051184.HTML), [PDF](https://lis.blob.core.windows.net/files/1052138.PDF), [PDF](https://lis.blob.core.windows.net/files/1051183.PDF) - Substitute, 2025-02-04: [HTML](https://lis.blob.core.windows.net/files/1040239.HTML), [PDF](https://lis.blob.core.windows.net/files/1040238.PDF) - Introduced, 2025-01-07: [HTML](https://lis.blob.core.windows.net/files/1017791.HTML), [PDF](https://lis.blob.core.windows.net/files/1017790.PDF) ## Related bills - HR671: Commending JR's Auto Care. (adopted) - SB941: Robbery; use of air or gas operated weapon, etc., penalty. (failed) - HB1746: Public safety officer; definition. (failed) - HB1600: Budget Bill. (failed) - SB1449: Data centers; site assessment for high energy use facility. (failed) - HB1609: Essential health benefits benchmark plan; Commission to consider coverage for infertility treatment. (to governor) ## Sources - [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1078078.HTML) - [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1078077.PDF) - [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1069312.HTML) - [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1069311.PDF) - [Conference Report (HTML)](https://lis.blob.core.windows.net/files/1067785.HTML) - [Substitute (HTML)](https://lis.blob.core.windows.net/files/1067816.HTML) - [Substitute (PDF)](https://lis.blob.core.windows.net/files/1067815.PDF) - [Substitute (HTML)](https://lis.blob.core.windows.net/files/1052139.HTML) - [Substitute (HTML)](https://lis.blob.core.windows.net/files/1051184.HTML) - [Substitute (PDF)](https://lis.blob.core.windows.net/files/1052138.PDF) - [Substitute (PDF)](https://lis.blob.core.windows.net/files/1051183.PDF) - [Substitute (HTML)](https://lis.blob.core.windows.net/files/1040239.HTML) - [Substitute (PDF)](https://lis.blob.core.windows.net/files/1040238.PDF) - [Introduced (HTML)](https://lis.blob.core.windows.net/files/1017791.HTML) - [Introduced (PDF)](https://lis.blob.core.windows.net/files/1017790.PDF) ## Related - [HR671: Commending JR's Auto Care.](https://policyrisk.com/state-bill/VA-HR671-2025) - [SB941: Robbery; use of air or gas operated weapon, etc., penalty.](https://policyrisk.com/state-bill/VA-SB941-2025) - [HB1746: Public safety officer; definition.](https://policyrisk.com/state-bill/VA-HB1746-2025) - [HB1600: Budget Bill.](https://policyrisk.com/state-bill/VA-HB1600-2025) - [SB1449: Data centers; site assessment for high energy use facility.](https://policyrisk.com/state-bill/VA-SB1449-2025) - [HB1609: Essential health benefits benchmark plan; Commission to consider coverage for i…](https://policyrisk.com/state-bill/VA-HB1609-2025) - [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-SB1076-2025 (as of 2026-10-17).