Manufactured Housing Licensing and Transaction Recovery Fund Law; raises maximum claim amount. (SB1459)

Introduced By

Sen. Phil Puckett (D-Tazewell)

Description

Manufactured Housing Licensing and Transaction Recovery Fund Law. Raises the maximum claim amount of a single claimant against the Manufactured Housing Recovery Fund for single or multiple violations by one or more regulants from $20,000 to $40,000, and raises the minimum balance of the Fund from $250,000 to $500,000. The bill also (i) authorizes interest earned on the Fund to be used for education programs for a wider range of individuals and to pay department staff expenses for conducting investigations, and (ii) authorizes the Manufactured Housing Board to use up to five percent of the balance of the Fund in any fiscal year for educational purposes and to pay investigation expenses. Under the bill, the provisions raising the minimum fund balance and authorizing the use of the Fund balance and interest on educational programs and to pay investigative cost will expire on July 1, 2012. Amends § 36-85.28 (“Limitation on damages; disclosure to buyer.”), § 36-85.31 (“Recovery fund to be established.”), § 36-85.32 (“Recovery from fund generally.”), of the Code of Virginia. View Full Text »

Outcome

In the News

Rams Climb Hill to Lobby Lawmakers

January 30, 2011
Despite the rain, a small group of Virginia Commonwealth University students gathered at the Capitol on Wednesday to lobby state legislators at Rams Day on the Hill. The event, sponsored by VCU’s Student Government Association, allows participants to meet with lawmakers and lobby for bills that affect the university.

No Richmond Sunlight visitors voted on this bill while voting was open.