Travis Hackworth
- Republican
- Senator
- District 5
Primary
Virginia Contractor Transaction Recovery Fund; claim limits; license threshold amounts. Increases from $20,000 to $30,000 per claim the individual limit of claims against the Virginia Contractor Transaction Recovery Fund based upon an unpaid judgment arising out of the improper or dishonest conduct of a licensed contractor in connection with a single transaction involving contracting and increases from $40,000 to $100,000 during any biennium the aggregate claim limit against a single licensed contractor. The bill also raises the thresholds for the value of single contracts or projects and the total value of all construction, removal, repair, or improvements undertaken by a contractor in a 12-month period that govern each class of contractor's licenses. This bill is identical to HB 1707.
An Act to amend and reenact ยงยง 54.1-1100, 54.1-1119, and 54.1-1123 of the Code of Virginia, relating to Virginia Contractor Transaction Recovery Fund; claim limits; license threshold amounts.
No votes to display
Acts of Assembly Chapter text (CHAP0133)
Approved by Governor-Chapter 133 (Effective 07/01/25)
Governor's Action Deadline 11:59 p.m., March 24, 2025
Enrolled Bill Communicated to Governor on February 18, 2025
Signed by President
Bill text as passed Senate and House (SB1059ER)
Signed by Speaker
Fiscal Impact Statement from Department of Planning and Budget (SB1059)
Enrolled
Read third time
Passed House (94-Y 0-N)
Read second time
Reported from General Laws (21-Y 0-N)
Placed on Calendar
Referred to Committee on General Laws
Read first time
Fiscal Impact Statement from Department of Planning and Budget (SB1059)
Read third time and passed Senate (39-Y 0-N)
Read second time
Engrossed by Senate
Rules suspended
Passed by for the day
Constitutional reading dispensed (on 1st reading) (37-Y 0-N)
Reported from General Laws and Technology (15-Y 0-N)
Referred to Committee on General Laws and Technology
Prefiled and ordered printed; Offered 01-08-2025 25102900D
| Bill Text Versions | Format |
|---|---|
| Chaptered | HTML PDF |
| Enrolled | HTML PDF |
| Introduced | HTML PDF |
| Document | Format |
|---|---|
| Fiscal Impact Statement from Department of Planning and Budget (SB1059) | PDF PDF |
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