Forward energy pricing; authorizes any public body to use mechanisms for budget risk reduction. (HB211)
Introduced By
Del. Jackson Miller (R-Manassas)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Procurement; forward energy pricing. Authorizes any public body to use forward pricing mechanisms for budget risk reduction. Forward pricing mechanisms are contracts or financial instruments that obligate the public body to buy or sell a specified quantity of energy at a future date at a set price or provide the option to buy or sell the contract or financial instrument. Forward pricing mechanism transactions may be made only if (i) the quantity of energy affected by the mechanism does not exceed the estimated energy use for the public body for the same period, (ii) the period of the mechanism does not exceed 48 months, (iii) a separate account is established for operational energy for the public body, (iv) the public body develops written policies and procedures, and (v) the public body establishes an oversight process. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 01/09/2012 | Committee |
| 01/09/2012 | Prefiled and ordered printed; offered 01/11/12 12101172D |
| 01/09/2012 | Referred to Committee on General Laws |
| 01/17/2012 | Impact statement from DPB (HB211) |
| 01/27/2012 | Assigned GL sub: #2 FOIA/Procurement |
| 02/09/2012 | Subcommittee recommends reporting with amendment(s) (5-Y 1-N) |
| 02/09/2012 | Reported from General Laws with amendments (20-Y 0-N) (see vote tally) |
| 02/12/2012 | Read first time |
| 02/13/2012 | Read second time |
| 02/13/2012 | Committee amendments agreed to |
| 02/13/2012 | Engrossed by House as amended HB211E |
| 02/13/2012 | Printed as engrossed 12101172D-E |
| 02/14/2012 | Read third time and passed House (98-Y 1-N 1-A) |
| 02/14/2012 | VOTE: PASSAGE (98-Y 1-N 1-A) (see vote tally) |
| 02/15/2012 | Constitutional reading dispensed |
| 02/15/2012 | Referred to Committee on General Laws and Technology |
| 02/21/2012 | Impact statement from DPB (HB211E) |
| 02/27/2012 | Reported from General Laws and Technology (12-Y 0-N) (see vote tally) |
| 02/29/2012 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 03/01/2012 | Read third time |
| 03/01/2012 | Passed Senate (40-Y 0-N) (see vote tally) |
| 03/01/2012 | Reconsideration of Senate passage agreed to by Senate (39-Y 0-N) (see vote tally) |
| 03/01/2012 | Passed Senate (39-Y 0-N) (see vote tally) |
| 03/07/2012 | Enrolled |
| 03/07/2012 | Bill text as passed House and Senate (HB211ER) |
| 03/07/2012 | Impact statement from DPB (HB211ER) |
| 03/07/2012 | Signed by Speaker |
| 03/08/2012 | Signed by President |
| 03/23/2012 | G Approved by Governor-Chapter 359 (effective 7/1/12) |
| 03/23/2012 | G Acts of Assembly Chapter text (CHAP0359) |
Video
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 35 seconds.