VA HB1630 | 2013 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 13 2013 - 100% progression
Action: 2013-03-13 - Governor: Acts of Assembly Chapter text (CHAP0259)
Text: Latest bill text (Chaptered) [HTML]

Summary

Virginia Real Estate Time-Share Act; developer control in time-share estate program; control liens; foreclosure procedure. Provides that in addition to the current developer control termination provisions and to the extent that the purchase contract or time-share instrument does not expressly provide otherwise, the developer control period shall terminate when the developer is no longer the beneficiary on deeds of trust secured on at least 20 percent of the time-share estates. Under current law, the transfer must occur when the developer has (i) transferred to purchasers legal or equitable ownership of at least 90 percent of the time-share estates or (ii) completed all of the promised common elements and facilities comprising the time-share estate project, whichever occurs last. Under the bill, the commissioner of accounts to whom an account of sale is returned in connection with the foreclosure shall be entitled to a fee, not to exceed (a) $70, on each foreclosure of a lien on a time-share estate for unpaid past due regular and special assessments and (b) $125 per foreclosure of a purchase money deed of trust taken back by the developer. The bill includes a second enactment clause stating the intent of the General Assembly that the provisions of the bill relating to the developer control period shall apply retroactively to all registered time-share projects to the extent that the purchase contract or time-share instrument does not expressly provide otherwise. The bill is a recommendation of the Virginia Housing Commission.

Tracking Information

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Title

Virginia Real Estate Time-Share Act; developer control in time-share estate program, etc.

Sponsors


Roll Calls

2013-02-21 - House - House: VOTE: ADOPTION (95-Y 1-N) (Y: 97 N: 1 NV: 4 Abs: 0) [PASS]
2013-02-19 - Senate - Senate: Passed Senate with amendment (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2013-02-18 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2013-02-15 - Senate - Senate: Reported from Courts of Justice with amendment (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]
2013-02-11 - Senate - Senate: Reported from General Laws and Technology (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2013-01-30 - House - House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (Y: 101 N: 0 NV: 1 Abs: 0) [PASS]
2013-01-24 - House - House: Reported from General Laws with amendment (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2013-01-23 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2013-03-13 Governor: Acts of Assembly Chapter text (CHAP0259)
2013-03-13 Governor: Approved by Governor-Chapter 259 (effective 7/1/13)
2013-02-23SenateSigned by President
2013-02-23HouseSigned by Speaker
2013-02-23HouseBill text as passed House and Senate (HB1630ER)
2013-02-23HouseEnrolled
2013-02-21HouseVOTE: ADOPTION (95-Y 1-N)
2013-02-21HouseSenate amendment agreed to by House (95-Y 1-N)
2013-02-19HousePlaced on Calendar
2013-02-19SenatePassed Senate with amendment (40-Y 0-N)
2013-02-19SenateEngrossed by Senate as amended
2013-02-19SenateCommittee amendment agreed to
2013-02-19SenateReading of amendment waived
2013-02-19SenateRead third time
2013-02-18SenateConstitutional reading dispensed (40-Y 0-N)
2013-02-15SenateReported from Courts of Justice with amendment (13-Y 0-N)
2013-02-11SenateRereferred to Courts of Justice
2013-02-11SenateReported from General Laws and Technology (14-Y 0-N)
2013-01-31SenateReferred to Committee on General Laws and Technology
2013-01-31SenateConstitutional reading dispensed
2013-01-30HouseVOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
2013-01-30HouseRead third time and passed House BLOCK VOTE (99-Y 0-N)
2013-01-29HousePrinted as engrossed 13100747D-E
2013-01-29HouseEngrossed by House as amended HB1630E
2013-01-29HouseCommittee amendment agreed to
2013-01-29HouseRead second time
2013-01-28HouseRead first time
2013-01-24HouseReported from General Laws with amendment (22-Y 0-N)
2013-01-23HouseSubcommittee recommends reporting with amendment(s) (7-Y 0-N)
2013-01-14HouseAssigned GL sub: #1 Housing
2013-01-14HouseReferred to Committee on General Laws
2013-01-14HouseReferred from Courts of Justice by voice vote
2013-01-07HouseReferred to Committee for Courts of Justice
2013-01-07HousePrefiled and ordered printed; offered 01/09/13 13100747D

Same As/Similar To

SB772 (Same As) 2013-03-13 - Governor: Acts of Assembly Chapter text (CHAP0327)

Subjects


Virginia State Sources

TypeSource
Summaryhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+sum+HB1630
Texthttp://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1630+hil
Texthttp://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1630E+hil
Texthttp://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1630ER+hil
Texthttp://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+CHAP0259+hil
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+H1101V0011+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+H11V0072+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+HV0373+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+S12V0108+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+S03V0274+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+SV0648HB1630+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+SV0685HB1630+HB1630
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?131+vot+HV1204+HB1630

Bill Comments

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