Virginia House Bill 1778 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on March 26 2023 - 100% progression
Action: 2023-03-26 - Governor: Acts of Assembly Chapter text (CHAP0543)
Text: Latest bill text (Chaptered) [HTML]

Financial institutions; certain investments by banks permitted. Provides that the prohibition on a bank from investing its funds in certain entities does not prevent a bank from (i) investing in (a) a community development corporation; (b) an entity formed primarily to support community-based economic development; (c) an entity qualifying for the federal new markets tax credit; (d) an entity formed for a predominantly civic, community, or public purpose; (e) an entity making qualified rehabilitation expenditures with respect to a qualified rehabilitated building or certified historic structure, or a similar state historic tax credit program; or (f) a rural business investment company; (ii) engaging in any tax equity finance transaction permissible for a national bank or federal savings association; or (iii) investing, subject to such conditions as the Commissioner of Financial Institutions may prescribe, in any community and economic development entity, community development project, or other public welfare investment.

Financial institutions; certain investments by banks permitted.

Del. Israel O'Quinn [R]

Del. Dave LaRock [R]

2023-02-16 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2023-02-15 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2023-02-13 - Senate - Senate: Reported from Commerce and Labor (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2023-01-23 - House - House: VOTE: (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2023-01-17 - House - House: Reported from Commerce and Energy with amendment(s) (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2023-03-26		Governor: Acts of Assembly Chapter text (CHAP0543)
2023-03-26		Governor: Approved by Governor-Chapter 543 (effective 7/1/23)
2023-03-02		Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
2023-03-02	House	Enrolled Bill communicated to Governor on March 2, 2023
2023-02-23	Senate	Signed by President
2023-02-21	House	Signed by Speaker
2023-02-21	House	Bill text as passed House and Senate (HB1778ER)
2023-02-21	House	Enrolled
2023-02-16	Senate	Passed Senate (40-Y 0-N)
2023-02-16	Senate	Read third time
2023-02-15	Senate	Constitutional reading dispensed (40-Y 0-N)
2023-02-13	Senate	Reported from Commerce and Labor (15-Y 0-N)
2023-01-24	Senate	Referred to Committee on Commerce and Labor
2023-01-24	Senate	Constitutional reading dispensed
2023-01-23	House	VOTE: (99-Y 0-N)
2023-01-23	House	Read third time and passed House BLOCK VOTE (99-Y 0-N)
2023-01-20	House	Printed as engrossed 23102044D-E
2023-01-20	House	Engrossed by House as amended HB1778E
2023-01-20	House	Committee amendments agreed to
2023-01-20	House	Read second time
2023-01-19	House	Read first time
2023-01-17	House	Reported from Commerce and Energy with amendment(s) (21-Y 0-N)
2023-01-10	House	Referred to Committee on Commerce and Energy
2023-01-10	House	Prefiled and ordered printed; offered 01/11/23 23102044D

SB1153 (Same As) 2023-03-26 - Governor: Acts of Assembly Chapter text (CHAP0544)
SB1153 (Same As) 2023-03-26 - Governor: Acts of Assembly Chapter text (CHAP0544)

Chapter	Article	Section	Citation Type	Statute Text
6	2	800	(n/a)	See Bill Text
6	2	874	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+HB1778
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB1778+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB1778E+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB1778ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+CHAP0543+hil
Amendment	https://committees.lis.virginia.gov/pdfs/drafts/23104674A.pdf
Amendment	https://lis.virginia.gov/cgi-bin/legp604.exe?231+amd+HB1778AH
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+HB1778F171+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+HB1778FE171+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+HB1778FER171+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+H23V0010+HB1778
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+HV1042+HB1778
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+S02V0101+HB1778
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+SV0505HB1778+HB1778
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+SV0532HB1778+HB1778