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