Real property; required disclosures for buyer to exercise due diligence, flood risk report. (SB1389)

Introduced By

Sen. Lynwood Lewis (D-Accomac) 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 Property Disclosure Act; required disclosures; repetitive risk loss structure; flood risk information form. Requires the Real Estate Board to make available on its website a flood risk information form, the details of which are outlined in the bill. The bill also provides that an owner of residential real property located in the Commonwealth who has actual knowledge that the dwelling unit is a repetitive risk loss structure, as defined in the bill, shall disclose such fact to the purchaser on a form provided by the Real Estate Board on its website. The bill has a delayed effective date of January 1, 2022. This bill is identical to HB 2320. Read the Bill »

Status

04/19/2021: Awaiting a Vote in the Finance and Appropriations Committee

History

Date	Action
01/13/2021	Prefiled and ordered printed; offered 01/13/21 21102797D
01/13/2021	Referred to Committee on General Laws and Technology
01/21/2021	Impact statement from DPB (SB1389)
01/27/2021	Senate committee, floor amendments and substitutes offered
01/27/2021	Committee substitute printed 21103860D-S1
01/27/2021	Reported from General Laws and Technology with substitute (14-Y 0-N) (see vote tally)
01/27/2021	Rereferred to Finance and Appropriations
02/01/2021	Impact statement from DPB (SB1389S1)
02/03/2021	Reported from Finance and Appropriations with amendment (15-Y 0-N) (see vote tally)
02/03/2021	Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/04/2021	Read second time
02/04/2021	Reading of substitute waived
02/04/2021	Committee substitute agreed to 21103860D-S1
02/04/2021	Reading of amendment waived
02/04/2021	Committee amendment agreed to
02/04/2021	Engrossed by Senate - committee substitute with amendment SB1389ES1
02/04/2021	Printed as engrossed 21103860D-ES1
02/04/2021	Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/04/2021	Passed Senate (39-Y 0-N) (see vote tally)
02/07/2021	Placed on Calendar
02/07/2021	Read first time
02/07/2021	Referred to Committee on General Laws
02/08/2021	Continued to Special Session 1 in General Laws
02/10/2021	Impact statement from DPB (SB1389ES1)
02/11/2021	Reported from General Laws (20-Y 2-N) (see vote tally)
02/15/2021	Read second time
02/16/2021	Read third time
02/16/2021	Passed House (94-Y 5-N)
02/16/2021	VOTE: Passage (94-Y 5-N) (see vote tally)
02/19/2021	Enrolled
02/19/2021	Bill text as passed Senate and House (SB1389ER)
02/19/2021	Impact statement from DPB (SB1389ER)
02/22/2021	Signed by President
02/22/2021	Signed by Speaker
02/24/2021	Enrolled Bill Communicated to Governor on February 24, 2021
02/24/2021	G Governor's Action Deadline 11:59 p.m., March 31, 2021
03/24/2021	G Approved by Governor-Chapter 323 (effective 1/1/22)
03/24/2021	G Acts of Assembly Chapter text (CHAP0323)