Inflationary effects; increasing various costs, fees, etc., penalties. (SB154)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Increasing various costs, fees, penalties, etc. Increases the amounts of various costs, fees, potential damages, jurisdictional amounts, and other dollar-based provisions in the Virginia Code to account for the effect of inflation. The bill also increases the threshold amount for when a contract must be in writing under statute of frauds contained in the Uniform Commercial Code (UCC) as adopted in Virginia to match the current UCC amount. This bill is a recommendation of the Boyd-Graves Conference. View Full Text »
Outcome
Bill Has Passed
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