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

03/24/2021: signed by governor

History

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