VA HB648 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on April 8 2024 - 100% progression
Action: 2024-04-08 - Governor: Acts of Assembly Chapter text (CHAP0728)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on April 8 2024 - 100% progression
Action: 2024-04-08 - Governor: Acts of Assembly Chapter text (CHAP0728)
Text: Latest bill text (Chaptered) [HTML]
Summary
Contracts assigning rights to inheritance funds; legal rate of interest. Provides that any contract entered into on or after July 1, 2024, pursuant to which a person receives a cash advance for assigning to a company or other entity a portion of such person's rights to receive inheritance funds from a will in a pending probate matter shall be considered a loan and any additional funds such person is obligated to pay under the terms of the contract shall be considered interest. The bill provides that such contract shall be subject to the legal rate of interest. Contracts assigning rights to inheritance funds; legal rate of interest. Provides that any contract entered into on or after July 1, 2024, pursuant to which a person receives a cash advance for assigning to a company or other entity a portion of such person's rights to receive inheritance funds from a will in a pending probate matter shall be considered a loan and any additional funds such person is obligated to pay under the terms of the contract shall be considered interest. The bill provides that such contract shall be subject to the legal rate of interest.
Title
Contracts assigning rights to inheritance funds; legal rate of interest.
Sponsors
Roll Calls
2024-02-23 - House - House: VOTE: Adoption (96-Y 0-N) (Y: 96 N: 0 NV: 0 Abs: 4) [PASS]
2024-02-21 - Senate - Senate: Passed Senate with amendment (30-Y 10-N) (Y: 30 N: 10 NV: 0 Abs: 0) [PASS]
2024-02-20 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-19 - Senate - Senate: Reported from Courts of Justice (12-Y 0-N 2-A) (Y: 12 N: 0 NV: 2 Abs: 0) [PASS]
2024-01-31 - House - House: VOTE: Block Vote Passage (100-Y 0-N) (Y: 100 N: 0 NV: 0 Abs: 0) [PASS]
2024-01-25 - House - House: Reported from Labor and Commerce with amendment(s) (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-23 - House - House: Subcommittee recommends reporting with amendments (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-21 - Senate - Senate: Passed Senate with amendment (30-Y 10-N) (Y: 30 N: 10 NV: 0 Abs: 0) [PASS]
2024-02-20 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-19 - Senate - Senate: Reported from Courts of Justice (12-Y 0-N 2-A) (Y: 12 N: 0 NV: 2 Abs: 0) [PASS]
2024-01-31 - House - House: VOTE: Block Vote Passage (100-Y 0-N) (Y: 100 N: 0 NV: 0 Abs: 0) [PASS]
2024-01-25 - House - House: Reported from Labor and Commerce with amendment(s) (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-23 - House - House: Subcommittee recommends reporting with amendments (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-04-08 | Governor: Acts of Assembly Chapter text (CHAP0728) | |
| 2024-04-08 | Governor: Approved by Governor-Chapter 728 (effective 7/1/24) | |
| 2024-03-11 | Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024 | |
| 2024-03-11 | House | Enrolled Bill communicated to Governor on March 11, 2024 |
| 2024-03-02 | Senate | Signed by President |
| 2024-02-28 | House | Signed by Speaker |
| 2024-02-28 | House | Bill text as passed House and Senate (HB648ER) |
| 2024-02-28 | House | Enrolled |
| 2024-02-23 | House | VOTE: Adoption (96-Y 0-N) |
| 2024-02-23 | House | Senate amendment agreed to by House (96-Y 0-N) |
| 2024-02-21 | Senate | Passed Senate with amendment (30-Y 10-N) |
| 2024-02-21 | Senate | Engrossed by Senate as amended |
| 2024-02-21 | Senate | Amendment by Senator Surovell agreed to |
| 2024-02-21 | Senate | Reading of amendment waived |
| 2024-02-21 | Senate | Read third time |
| 2024-02-20 | Senate | Constitutional reading dispensed (39-Y 0-N) |
| 2024-02-19 | Senate | Reported from Courts of Justice (12-Y 0-N 2-A) |
| 2024-02-01 | Senate | Referred to Committee for Courts of Justice |
| 2024-02-01 | Senate | Constitutional reading dispensed |
| 2024-01-31 | House | VOTE: Block Vote Passage (100-Y 0-N) |
| 2024-01-31 | House | Read third time and passed House BLOCK VOTE (100-Y 0-N) |
| 2024-01-30 | House | Printed as engrossed 24104601D-E |
| 2024-01-30 | House | Engrossed by House as amended HB648E |
| 2024-01-30 | House | Committee amendment agreed to |
| 2024-01-30 | House | Read second time |
| 2024-01-29 | House | Read first time |
| 2024-01-25 | House | Reported from Labor and Commerce with amendment(s) (21-Y 0-N) |
| 2024-01-23 | House | Subcommittee recommends reporting with amendments (7-Y 0-N) |
| 2024-01-16 | House | Assigned L & C sub: Subcommittee #1 |
| 2024-01-09 | House | Referred to Committee on Labor and Commerce |
| 2024-01-09 | House | Prefiled and ordered printed; offered 01/10/24 24104601D |
