Residential Executory Real Estate Contracts Act; created. (SB1449)

Introduced By

Sen. Mamie Locke (D-Hampton) with support from co-patron Sen. Monty Mason (D-Williamsburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Residential Executory Real Estate Contracts Act. Creates the Virginia Residential Executory Real Estate Contracts Act establishing provisions applicable to such contracts. The bill defines a residential executory real estate contract as an installment land contract, lease option contract, or rent-to-own contract by which a purchaser acquires any right or interest in real property other than a right of first refusal and occupies or intends to occupy the property as his primary residence. The bill also provides for the Board for Housing and Community Development to develop and make available on its website best practice provisions for residential executory real estate contracts. As introduced, this bill was a recommendation of the Virginia Housing Commission. Read the Bill »

Status

05/25/2019: Awaiting a Vote in the General Laws and Technology Committee

History

DateAction
01/08/2019Prefiled and ordered printed; offered 01/09/19 19104069D
01/08/2019Referred to Committee on General Laws and Technology
01/21/2019Reported from General Laws and Technology (14-Y 0-N) (see vote tally)
01/23/2019Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/24/2019Read second time and engrossed
01/25/2019Read third time and passed Senate (39-Y 0-N) (see vote tally)
01/25/2019Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
01/25/2019Passed Senate (40-Y 0-N) (see vote tally)
01/29/2019Placed on Calendar
01/29/2019Read first time
01/29/2019Referred to Committee on General Laws
02/05/2019Impact statement from DPB (SB1449)
02/07/2019Assigned GL sub: Subcommittee #2
02/14/2019House subcommittee amendments and substitutes offered
02/14/2019Subcommittee recommends reporting with substitute (8-Y 0-N)
02/14/2019Reported from General Laws with substitute (22-Y 0-N) (see vote tally)
02/14/2019Committee substitute printed 19106630D-H1
02/18/2019Read second time
02/19/2019Read third time
02/19/2019Committee substitute agreed to 19106630D-H1
02/19/2019Engrossed by House - committee substitute SB1449H1
02/19/2019Passed House with substitute BLOCK VOTE (98-Y 0-N)
02/19/2019VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/19/2019Reconsideration of House passage agreed to by House
02/19/2019Passed House with substitute BLOCK VOTE (99-Y 0-N)
02/19/2019VOTE: BLOCK VOTE PASSAGE #2 (99-Y 0-N) (see vote tally)
02/20/2019House substitute agreed to by Senate (40-Y 0-N) (see vote tally)
02/20/2019Title replaced 19106630D-H1
02/21/2019Impact statement from DPB (SB1449H1)
02/23/2019Enrolled
02/23/2019Bill text as passed Senate and House (SB1449ER)
02/23/2019Signed by President
02/23/2019Signed by Speaker
02/25/2019Impact statement from DPB (SB1449ER)
03/04/2019Enrolled Bill Communicated to Governor on March 4, 2019
03/04/2019G Governor's Action Deadline Midnight, March 26, 2019
03/18/2019G Approved by Governor-Chapter 511 (effective 7/1/19)
03/18/2019G Acts of Assembly Chapter text (CHAP0511)

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