Virginia House Bill 789 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 43-0)
Status: Passed on April 22 2020 - 100% progression
Action: 2020-04-22 - Governor: Acts of Assembly Chapter text (CHAP1215)
Text: Latest bill text (Chaptered) [HTML]

Consumer lending. Replaces references to payday loans with the term "short-term loans." The measure caps the interest and fees that may be charged under a short-term loan at an annual rate of 36 percent, plus a maintenance fee; increases the maximum amount of such loans from $500 to $2,500; and sets the duration of such loans at a minimum of four months, subject to exceptions, and a maximum of 24 months. Short-term loan licensees are required to make a reasonable attempt to verify a borrower's income and may not collect fees and charges that exceed 50 percent of the original loan amount if such amount is equal to or less than $1,500 and 60 percent of the original loan amount if such amount is greater than $1,500. The measure amends the requirements for motor vehicle title loans, including requiring licensed lenders to use a database to determine a prospective borrower's eligibility for a loan and prohibiting loans to a borrower who has an outstanding short-term loan. The measure sets a 36-percent annual interest rate cap on open-end credit plans and allows a $50 annual participation fee. A violation of these provisions is made a prohibited practice under the Virginia Consumer Protection Act. The measure amends provisions of the Consumer Finance Act to, among other things, allow licensed lenders to use the services of access partners and establish requirements that loans be between $300 and $35,000; be repayable in substantially equal installment payments; have a term of no fewer than six and no more than 120 months; charge not more than 36 percent annual interest and a loan processing fee; and require licensees to post a bond. The measure prohibits credit service businesses from advertising, offering, or performing other services in connection with an extension of credit that has an annual interest rate exceeding 36 percent, is for less than $5,000, has a term of less than one year, or is provided under an open-end credit plan. The bill has a delayed effective date of January 1, 2021, and requires any person who would be required to be licensed under the provisions of the act to apply for a license by October 1, 2020.

Consumer lending; replaces references to payday loans with term "short-term loans."

Sen. Lamont Bagby [D]	Del. Jeffrey Bourne [D]	Del. Mark Levine [D]	Del. Sam Rasoul [D]
Del. Jeion Ward [D]	Sen. Lashrecse Aird [D]	Del. Alex Askew [D]	Del. Hala Ayala [D]
Del. David Bulova [D]	Del. Betsy Carr [D]	Del. Joshua Cole [D]	Del. Karrie Delaney [D]
Del. Wendy Gooditis [D]	Del. Nancy Guy [D]	Del. Elizabeth Guzman [D]	Del. C.E. Hayes [D]
Del. Dan Helmer [D]	Del. Steve Heretick [D]	Del. Charniele Herring [D]	Del. Patrick Hope [D]
Del. Chris Hurst [D]	Del. Clinton Jenkins [D]	Del. Mark Keam [D]	Del. Kaye Kory [D]
Del. Paul Krizek [D]	Del. Alfonso Lopez [D]	Del. Delores McQuinn [D]	Del. Martha Mugler [D]
Del. Michael Mullin [D]	Del. Kathleen Murphy [D]	Del. Kenneth Plum [D]	Del. Marcia Price [D]
Sen. Danica Roem [D]	Del. Ibraheem Samirah [D]	Del. Don Scott [D]	Del. Marcus Simon [D]
Del. Shelly Simonds [D]	Sen. Suhas Subramanyam [D]	Del. Luke Torian [D]	Del. Kathy Tran [D]
Del. Roslyn Tyler [D]	Sen. Schuyler VanValkenburg [D]	Del. Rodney Willett [D]

2020-04-22 - House - House: VOTE: (54-Y 41-N) (Y: 54 N: 41 NV: 5 Abs: 0) [PASS]
2020-04-22 - Senate - Senate: Senate concurred in Governor's recommendation (22-Y 18-N) (Y: 22 N: 18 NV: 0 Abs: 0) [PASS]
2020-02-26 - House - House: VOTE: Adoption (62-Y 30-N) (Y: 62 N: 30 NV: 8 Abs: 0) [PASS]
2020-02-26 - Senate - Senate: Passed Senate with substitute (28-Y 12-N) (Y: 28 N: 12 NV: 0 Abs: 0) [PASS]
2020-02-26 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2020-02-25 - Senate - Senate: Reported from Finance and Appropriations (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-17 - Senate - Senate: Reported from Commerce and Labor with substitute (11-Y 4-N) (Y: 11 N: 4 NV: 0 Abs: 0) [PASS]
2020-01-31 - House - House: VOTE: Passage (65-Y 33-N) (Y: 65 N: 33 NV: 2 Abs: 0) [PASS]
2020-01-23 - House - House: Reported from Labor and Commerce with substitute (14-Y 8-N) (Y: 14 N: 8 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-04-22		Governor: Acts of Assembly Chapter text (CHAP1215)
2020-04-22	House	Enacted, Chapter 1215 (effective - see bill)
2020-04-22	Senate	Signed by President as reenrolled
2020-04-22	House	Signed by Speaker as reenrolled
2020-04-22	House	Reenrolled bill text (HB789ER2)
2020-04-22	House	Reenrolled
2020-04-22		Governor: Governor's recommendation adopted
2020-04-22	Senate	Senate concurred in Governor's recommendation (22-Y 18-N)
2020-04-22	House	VOTE: (54-Y 41-N)
2020-04-22	House	House concurred in Governor's recommendation (54-Y 41-N)
2020-04-22	House	Placed on Calendar
2020-04-11	House	Governor's recommendation received by House
2020-03-17		Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
2020-03-17	House	Enrolled Bill communicated to Governor on March 17, 2020
2020-03-12	Senate	Signed by President
2020-03-12	House	Signed by Speaker
2020-03-12	House	Bill text as passed House and Senate (HB789ER)
2020-03-12	House	Enrolled
2020-02-26	House	Senate substitute agreed to by House 20108486D-S1 (62-Y 30-N)
2020-02-26	Senate	Passed Senate with substitute (28-Y 12-N)
2020-02-26	Senate	Engrossed by Senate - committee substitute HB789S1
2020-02-26	Senate	Committee substitute agreed to 20108486D-S1
2020-02-26	Senate	Reading of substitute waived
2020-02-26	Senate	Read third time
2020-02-26	Senate	Constitutional reading dispensed (38-Y 0-N)
2020-02-26	House	VOTE: Adoption (62-Y 30-N)
2020-02-25	Senate	Reported from Finance and Appropriations (14-Y 0-N)
2020-02-17	Senate	Rereferred to Finance and Appropriations
2020-02-17	Senate	Committee substitute printed 20108486D-S1
2020-02-17	Senate	Reported from Commerce and Labor with substitute (11-Y 4-N)
2020-02-03	Senate	Referred to Committee on Commerce and Labor
2020-02-03	Senate	Constitutional reading dispensed
2020-01-31	House	VOTE: Passage (65-Y 33-N)
2020-01-31	House	Read third time and passed House (65-Y 33-N)
2020-01-30	House	Printed as engrossed 20106372D-EH1
2020-01-30	House	Engrossed by House - committee substitute with amendments HB789EH1
2020-01-30	House	Amendments by Delegate Bagby agreed to
2020-01-30	House	Committee substitute agreed to 20106372D-H1
2020-01-30	House	Read second time
2020-01-29	House	Passed by for the day
2020-01-28	House	Passed by for the day
2020-01-27	House	Read first time
2020-01-23	House	Incorporates HB843 (Murphy)
2020-01-23	House	Incorporates HB184 (Levine)
2020-01-23	House	Incorporates HB1296 (Helmer)
2020-01-23	House	Incorporates HB1265 (Carroll Foy)
2020-01-23	House	Committee substitute printed 20106372D-H1
2020-01-23	House	Reported from Labor and Commerce with substitute (14-Y 8-N)
2020-01-07	House	Referred to Committee on Labor and Commerce
2020-01-07	House	Prefiled and ordered printed; offered 01/08/20 20104677D

SB421 (Same As) 2020-04-22 - Governor: Acts of Assembly Chapter text (CHAP1258)

Chapter	Article	Section	Citation Type	Statute Text
59	1	200	(n/a)	See Bill Text
59	1	335.5	(n/a)	See Bill Text
6	2	1500	(n/a)	See Bill Text
6	2	1501	(n/a)	See Bill Text
6	2	1507	(n/a)	See Bill Text
6	2	1520	(n/a)	See Bill Text
6	2	1523	(n/a)	See Bill Text
6	2	1523.1	(n/a)	See Bill Text
6	2	1523.2	(n/a)	See Bill Text
6	2	1532.3	(n/a)	See Bill Text
6	2	1800	(n/a)	See Bill Text
6	2	1801	(n/a)	See Bill Text
6	2	1803	(n/a)	See Bill Text
6	2	1804	(n/a)	See Bill Text
6	2	1807	(n/a)	See Bill Text
6	2	1809	(n/a)	See Bill Text
6	2	1810	(n/a)	See Bill Text
6	2	1811	(n/a)	See Bill Text
6	2	1816	(n/a)	See Bill Text
6	2	1816.1	(n/a)	See Bill Text
6	2	1817	(n/a)	See Bill Text
6	2	1817.1	(n/a)	See Bill Text
6	2	1818	(n/a)	See Bill Text
6	2	1818.1	(n/a)	See Bill Text
6	2	1818.4	(n/a)	See Bill Text
6	2	1819	(n/a)	See Bill Text
6	2	1820	(n/a)	See Bill Text
6	2	1827	(n/a)	See Bill Text
6	2	1828	(n/a)	See Bill Text
6	2	2200	(n/a)	See Bill Text
6	2	2201	(n/a)	See Bill Text
6	2	2203	(n/a)	See Bill Text
6	2	2204	(n/a)	See Bill Text
6	2	2207	(n/a)	See Bill Text
6	2	2209.1	(n/a)	See Bill Text
6	2	2210	(n/a)	See Bill Text
6	2	2215	(n/a)	See Bill Text
6	2	2215.1	(n/a)	See Bill Text
6	2	2216	(n/a)	See Bill Text
6	2	2216.1	(n/a)	See Bill Text
6	2	2216.5	(n/a)	See Bill Text
6	2	2217	(n/a)	See Bill Text
6	2	2218.1	(n/a)	See Bill Text
6	2	2224	(n/a)	See Bill Text
6	2	2225	(n/a)	See Bill Text
6	2	2226	(n/a)	See Bill Text
6	2	303	(n/a)	See Bill Text
6	2	312	(n/a)	See Bill Text
6	2	435	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB789
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB789+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB789H1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB789EH1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB789S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB789ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB789ER2+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP1215+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H14V0043+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV0261+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S02V0162+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S05V0386+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV1050HB0789+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV1067HB0789+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV1411+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV2021HB0789+HB0789
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV2147+HB0789