# Virginia SB1252: Financial institutions; loans and legal rate of interest.

Virginia SB1252, Financial institutions; loans and legal rate of interest., is a 2025 Regular Session Senate bill sponsored by Lamont Bagby (Democratic); status to governor, last action 2025-04-02 (Senate sustained Governor's veto) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/VA-SB1252-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB1252
- State: Virginia
- Session: 2025 Regular Session
- Title: Financial institutions; loans and legal rate of interest.
- Status: to governor
- Chamber: Senate
- Introduced: 2025-01-08
- Last action: 2025-04-02, Senate sustained Governor's veto
- Sponsor: Lamont Bagby (Democratic)
- Cosponsors: 0
- Touches household money: no
- Roll calls: 9 (255 yes, 83 no in all)
- Economic provisions PRIA read: 0

## Summary

Financial institutions; loans and legal rate of interest. Provides that for the purposes of provisions governing usury and the legal rate of interest, "make" or "making," when used in reference to a loan, means advancing, offering to advance, or making a commitment to advance funds to a borrower for a loan. The bill provides that the prohibition against a contract for the payment of interest on a loan at a rate that exceeds 12 percent per year applies to any person who seeks to evade its application by any device, subterfuge, or pretense whatsoever, including (i) making loans disguised as personal property sale and leaseback transactions; (ii) disguising loan proceeds as a cash rebate for the pretextual installment sale of goods or services; and (iii) making, offering, assisting, or arranging a debtor to obtain a loan with a greater rate of interest, consideration, or charge than permitted through any method, including mail, telephone, Internet, or any electronic means, regardless of whether the person has a physical location in the state.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Lamont Bagby (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-02-19 | Senate | Reconsideration of | pass | 40 | 0 |   |
| 2025-02-19 | Senate | House amendment agreed to by Senate | pass | 29 | 10 | 1 |
| 2025-02-19 | Senate | House Amendment agreed to by Senate | pass | 39 | 1 |   |
| 2025-02-18 | House | Passed House with amendment | pass | 50 | 47 |   |
| 2025-02-13 | House | Reported from Labor and Commerce with amendment(s) | pass | 12 | 10 |   |
| 2025-02-11 | House | Subcommittee recommends reporting with amendment(s) | pass | 4 | 3 | 1 |
| 2025-02-03 | Senate | Read third time and passed Senate | pass | 34 | 6 |   |
| 2025-01-29 | Senate | Constitutional reading dispensed Block Vote (on 1st reading) | pass | 38 | 0 |   |
| 2025-01-27 | Senate | Reported from Commerce and Labor with substitute | pass | 9 | 6 |   |

## Actions (37)

- 2025-04-02: Senate sustained Governor's veto (Senate)
- 2025-04-02: Passed by for the day (Senate)
- 2025-03-24: Vetoed by Governor (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 (SB1252ER) (Senate)
- 2025-03-07: Enrolled (Senate)
- 2025-03-07: Signed by Speaker (House)
- 2025-02-19: House amendment agreed to by Senate (29-Y 10-N 1-A) (Senate)
- 2025-02-19: Reconsideration of (40-Y 0-N) (Senate)
- 2025-02-19: House Amendment agreed to by Senate (39-Y 1-N) (Senate)
- 2025-02-18: Passed House with amendment (50-Y 47-N) (House)
- 2025-02-18: Engrossed by House as amended (House)
- 2025-02-18: Labor and Commerce Amendment agreed to (House)
- 2025-02-18: Read third time (House)
- 2025-02-17: Read second time (House)
- 2025-02-13: Reported from Labor and Commerce with amendment(s) (12-Y 10-N) (House)
- 2025-02-11: Subcommittee recommends reporting with amendment(s) (4-Y 3-N) (House)
- 2025-02-06: Assigned L & C sub: Subcommittee #1 (House)
- 2025-02-06: Referred to Committee on Labor and Commerce (House)
- 2025-02-06: Read first time (House)
- 2025-02-06: Placed on Calendar (House)
- 2025-02-03: Read third time and passed Senate (34-Y 6-N) (Senate)
- 2025-02-02: Fiscal Impact Statement from State Corporation Commission (SB1252) (Senate)
- 2025-01-31: Passed by for the day (Senate)
- 2025-01-30: Engrossed by Senate - committee substitute (Senate)
- 2025-01-30: Commerce and Labor Substitute agreed to (Senate)
- 2025-01-30: Reading of substitute waived (Senate)
- 2025-01-30: Read second time (Senate)
- 2025-01-29: Constitutional reading dispensed Block Vote (on 1st reading) (38-Y 0-N) (Senate)
- 2025-01-29: Passed by for the day (Senate)
- 2025-01-29: Rules suspended (Senate)
- 2025-01-27: Reported from Commerce and Labor with substitute (9-Y 6-N) (Senate)
- 2025-01-27: Committee substitute printed 25106093D-S1 (Senate)
- 2025-01-08: Referred to Committee on Commerce and Labor (Senate)
- 2025-01-08: Prefiled and ordered printed; Offered 01-08-2025 25102986D (Senate)

## Bill text

- Veto Explanation, 2025-03-24: [HTML](https://lis.blob.core.windows.net/files/1074082.HTML)
- Enrolled, 2025-03-07: [HTML](https://lis.blob.core.windows.net/files/1066400.HTML), [PDF](https://lis.blob.core.windows.net/files/1066399.PDF)
- Amendment, 2025-02-18: [HTML](https://lis.blob.core.windows.net/files/1058230.HTML)
- Amendment, 2025-02-13: [HTML](https://lis.blob.core.windows.net/files/1051595.HTML)
- Amendment, 2025-02-11: [HTML](https://lis.blob.core.windows.net/files/1047052.HTML), [HTML](https://lis.blob.core.windows.net/files/1047384.HTML)
- Substitute, 2025-01-28: [HTML](https://lis.blob.core.windows.net/files/1031094.HTML), [PDF](https://lis.blob.core.windows.net/files/1031093.PDF)
- Introduced, 2025-01-08: [HTML](https://lis.blob.core.windows.net/files/1018523.HTML), [PDF](https://lis.blob.core.windows.net/files/1018522.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
- [Veto Explanation (HTML)](https://lis.blob.core.windows.net/files/1074082.HTML)
- [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1066400.HTML)
- [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1066399.PDF)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1058230.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1051595.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1047052.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1047384.HTML)
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1031094.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1031093.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1018523.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1018522.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)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB1252-2025 (as of 2026-10-17).