Motor Vehicle Transaction Recovery Fund; bonding requirements. (HB171)

Introduced By

Sen. John Cosgrove (R-Chesapeake)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Motor Vehicle Transaction Recovery Fund; bonding requirements.  Permits the Fund to drop below the previously mandated $250,000 balance requirement but not to register a negative balance. The bill also allows recovery against a dealer to include attorney fees. Read the Bill »


Bill Has Passed


01/09/2012Prefiled and ordered printed; offered 01/11/12 12101762D
01/09/2012Referred to Committee on Transportation
01/13/2012Assigned Transportation sub: #4
01/17/2012Impact statement from DPB (HB171)
01/20/2012Assigned Transportation sub: #3
01/24/2012Subcommittee recommends reporting with amendment(s) (6-Y 0-N)
01/26/2012Reported from Transportation with substitute (22-Y 0-N) (see vote tally)
01/26/2012Committee substitute printed 12104576D-H1
01/27/2012Read first time
01/30/2012Read second time
01/30/2012Committee substitute agreed to 12104576D-H1
01/30/2012Engrossed by House - committee substitute HB171H1
01/30/2012Impact statement from DPB (HB171H1)
01/31/2012Read third time and passed House BLOCK VOTE (97-Y 0-N)
01/31/2012VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/01/2012Constitutional reading dispensed
02/01/2012Referred to Committee on Transportation
02/08/2012Reported from Transportation (13-Y 0-N) (see vote tally)
02/10/2012Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/13/2012Read third time
02/13/2012Passed Senate (40-Y 0-N) (see vote tally)
02/14/2012Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/15/2012Bill text as passed House and Senate (HB171ER)
02/15/2012Impact statement from DPB (HB171ER)
02/15/2012Signed by Speaker
02/16/2012Signed by President
02/28/2012G Approved by Governor-Chapter 10 (effective 7/1/12)
02/28/2012G Acts of Assembly Chapter text (CHAP0010)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.