Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 15.2-912.4 as follows:

§15.2-912.4. Local limitations on number of motor vehicle title loan businesses and similar businesses.

In addition to all other regulatory authority available to a locality, the governing body of any locality may by ordinance reasonably limit the number of (i) motor vehicle title loan businesses licensed pursuant to §6.2-2201, (ii) payday lenders licensed pursuant to §6.2-1801, (iii) check cashers registered pursuant to §6.2-2101, and (iv) precious metals dealers as defined in §54.1-4100 that may be operated at any one time within its territorial limits. The ordinance may limit the number of such establishments based on a specific number of businesses per magisterial or election district or by limiting the number of such businesses within an established radius.