VA HB864 | 2018 | Regular Session
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on February 28 2018 - 100% progression
Action: 2018-02-28 - Governor: Acts of Assembly Chapter text (CHAP0060)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on February 28 2018 - 100% progression
Action: 2018-02-28 - Governor: Acts of Assembly Chapter text (CHAP0060)
Text: Latest bill text (Chaptered) [HTML]
Summary
Real Estate Board; powers and duties; escrow funds; education. Establishes notice provisions and required procedures to be followed in the case of escrow funds held by a real estate broker in the event of termination of a real estate purchase contract. In addition, the bill requires that the curricula for new licensees of the Real Estate Board include real estate-related finance as one of the topics and requires the Board to establish guidelines for a post-license educational curriculum for real estate salespersons consisting of at least 30 hours of instruction to be completed within one year from the last day of the month in which the initial license was issued. The bill (i) adds to the curriculum for broker continuing education courses the requirement that at least two hours of instruction include an overview of broker supervision requirements under Virginia law and Board regulations and (ii) provides for the Board to develop a form for signature by the parties to a real estate transaction that advises the purchaser to review the residential property disclosure statement on the Board's website. The bill also clarifies that the Board is required to make the disclosure form mandated by the Virginia Residential Property Disclosure Act (?§55-517 et seq.) available on the Board's website. Provisions of the bill amending the curriculum and instruction requirements have a delayed effective date of January 1, 2019. This bill is identical to SB 514.
Title
Real Estate Board; powers and duties, escrow funds.
Sponsors
Roll Calls
2018-02-15 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-14 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-12 - Senate - Senate: Reported from General Laws and Technology (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-05 - House - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (Y: 98 N: 0 NV: 2 Abs: 0) [PASS]
2018-01-30 - House - House: Reported from General Laws with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2018-01-25 - House - House: Subcommittee recommends reporting with substitute (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-14 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-12 - Senate - Senate: Reported from General Laws and Technology (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-05 - House - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (Y: 98 N: 0 NV: 2 Abs: 0) [PASS]
2018-01-30 - House - House: Reported from General Laws with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2018-01-25 - House - House: Subcommittee recommends reporting with substitute (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2018-02-28 | Governor: Acts of Assembly Chapter text (CHAP0060) | |
| 2018-02-28 | Governor: Approved by Governor-Chapter 60 (effective - see bill) | |
| 2018-02-22 | Governor: Governor's Action Deadline Midnight, March 1, 2018 | |
| 2018-02-22 | House | Enrolled Bill communicated to Governor on 2/22/18 |
| 2018-02-21 | Senate | Signed by President |
| 2018-02-19 | House | Signed by Speaker |
| 2018-02-19 | House | Bill text as passed House and Senate (HB864ER) |
| 2018-02-19 | House | Enrolled |
| 2018-02-15 | Senate | Passed Senate (40-Y 0-N) |
| 2018-02-15 | Senate | Read third time |
| 2018-02-14 | Senate | Constitutional reading dispensed (40-Y 0-N) |
| 2018-02-12 | Senate | Reported from General Laws and Technology (14-Y 0-N) |
| 2018-02-06 | Senate | Referred to Committee on General Laws and Technology |
| 2018-02-06 | Senate | Constitutional reading dispensed |
| 2018-02-05 | House | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) |
| 2018-02-05 | House | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
| 2018-02-02 | House | Engrossed by House - committee substitute HB864H1 |
| 2018-02-02 | House | Committee substitute agreed to 18105718D-H1 |
| 2018-02-02 | House | Read second time |
| 2018-02-01 | House | Read first time |
| 2018-01-30 | House | Committee substitute printed 18105718D-H1 |
| 2018-01-30 | House | Reported from General Laws with substitute (22-Y 0-N) |
| 2018-01-25 | House | Subcommittee recommends reporting with substitute (8-Y 0-N) |
| 2018-01-19 | House | Assigned GL sub: Subcommittee #2 |
| 2018-01-09 | House | Referred to Committee on General Laws |
| 2018-01-09 | House | Prefiled and ordered printed; offered 01/10/18 18104433D |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 54 | 1 | 2105 | (n/a) | See Bill Text |
| 54 | 1 | 2105.01 | (n/a) | See Bill Text |
| 54 | 1 | 2108.2 | (n/a) | See Bill Text |
| 54 | 1 | 2137 | (n/a) | See Bill Text |
