Virginia Senate Bill 1153 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on March 26 2023 - 100% progression
Action: 2023-03-26 - Governor: Acts of Assembly Chapter text (CHAP0544)
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.

Sen. Lynwood Lewis [D]

2023-02-14 - House - House: VOTE: Block Vote Passage (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2023-02-09 - House - House: Reported from Commerce and Energy (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
2023-01-27 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2023-01-25 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2023-01-23 - Senate - Senate: Reported from Commerce and Labor with amendments (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2023-03-26		Governor: Acts of Assembly Chapter text (CHAP0544)
2023-03-26		Governor: Approved by Governor-Chapter 544 (effective 7/1/23)
2023-03-02		Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
2023-03-02	Senate	Enrolled Bill Communicated to Governor on March 2, 2023
2023-02-16	House	Signed by Speaker
2023-02-16	Senate	Signed by President
2023-02-16	Senate	Bill text as passed Senate and House (SB1153ER)
2023-02-16	Senate	Enrolled
2023-02-14	House	VOTE: Block Vote Passage (99-Y 0-N)
2023-02-14	House	Passed House BLOCK VOTE (99-Y 0-N)
2023-02-14	House	Read third time
2023-02-13	House	Read second time
2023-02-09	House	Reported from Commerce and Energy (21-Y 0-N)
2023-02-08	House	Referred to Committee on Commerce and Energy
2023-02-08	House	Read first time
2023-02-08	House	Placed on Calendar
2023-01-27	Senate	Read third time and passed Senate (40-Y 0-N)
2023-01-26	Senate	Printed as engrossed 23102340D-E
2023-01-26	Senate	Engrossed by Senate as amended SB1153E
2023-01-26	Senate	Committee amendments agreed to
2023-01-26	Senate	Reading of amendments waived
2023-01-26	Senate	Read second time
2023-01-25	Senate	Constitutional reading dispensed (39-Y 0-N)
2023-01-23	Senate	Reported from Commerce and Labor with amendments (14-Y 0-N)
2023-01-10	Senate	Referred to Committee on Commerce and Labor
2023-01-10	Senate	Prefiled and ordered printed; offered 01/11/23 23102340D

HB1778 (Same As) 2023-03-26 - Governor: Acts of Assembly Chapter text (CHAP0543)

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+SB1153
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1153+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1153E+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1153ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+CHAP0544+hil
Amendment	https://committees.lis.virginia.gov/pdfs/drafts/23105124A.pdf
Amendment	https://lis.virginia.gov/cgi-bin/legp604.exe?231+amd+SB1153AS
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1153F171+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1153FE171+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1153FER171+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+S02V0045+SB1153
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+SV0112SB1153+SB1153
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+SV0129SB1153+SB1153
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+H23V0131+SB1153
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+HV1785+SB1153