Home service contract providers; SCC authorized to deny an initial application based on its review. (HB304)

Introduced By

Del. Terry Kilgore (R-Gate City)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Home service contract providers. Authorizes the State Corporation Commission (SCC)to deny an initial license application for a home service contract provider based on its review of the financial statements and any reports, certificates, or other documents filed with the SCC. The measure also changes the license renewal cycle for home service contract providers from a biennial process to an annual process beginning July 1, 2017, and revises the application fee from $1,000 biennially to $500 annually. Other provisions (i) clarify that the Virginia reserve requirement for such companies is determined by taking the gross consideration received for all home service contracts, less the claims paid, and then multiplying the remainder by 40 percent; (ii) clarify that the deposit requirement to become licensed as a home service contract provider is to be based on service contracts issued and in force in the Commonwealth; and (iii) replace a reference to "premiums" with "provider fees" because home service contracts are not insurance. Read the Bill »


Bill Has Passed


01/04/2016Prefiled and ordered printed; offered 01/13/16 16101552D
01/04/2016Referred to Committee on Commerce and Labor
01/10/2016Impact statement from SCC (HB304)
02/04/2016Reported from Commerce and Labor with substitute (22-Y 0-N) (see vote tally)
02/04/2016Committee substitute printed 16105224D-H1
02/08/2016Read first time
02/09/2016Read second time
02/09/2016Committee substitute agreed to 16105224D-H1
02/09/2016Engrossed by House - committee substitute HB304H1
02/10/2016Read third time and passed House BLOCK VOTE (99-Y 0-N)
02/10/2016VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/11/2016Constitutional reading dispensed
02/11/2016Referred to Committee on Commerce and Labor
02/11/2016Impact statement from SCC (HB304H1)
02/15/2016Reported from Commerce and Labor with amendment (15-Y 0-N) (see vote tally)
02/16/2016Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/17/2016Read third time
02/17/2016Reading of amendment waived
02/17/2016Committee amendment agreed to
02/17/2016Emergency clause added
02/17/2016Engrossed by Senate as amended
02/17/2016Passed Senate with amendment (40-Y 0-N) (see vote tally)
02/18/2016Placed on Calendar
02/19/2016Senate amendment agreed to by House (98-Y 0-N)
02/19/2016VOTE: ADOPTION (98-Y 0-N) (see vote tally)
02/22/2016Bill text as passed House and Senate (HB304ER)
02/22/2016Signed by Speaker
02/22/2016Signed by President
02/22/2016Enrolled Bill communicated to Governor on 2/22/16
02/22/2016G Governor's Action Deadline Midnight, February 29, 2016
02/23/2016Impact statement from SCC (HB304ER)
02/29/2016G Approved by Governor-Chapter 55 (effective 2/29/16)
02/29/2016G Acts of Assembly Chapter text (CHAP0055)