---
type: "Bill"
title: "Financial institutions; certain investments by banks permitted."
description: "Financial institutions; certain investments by banks permitted."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2023"
identifier: "HB 1778"
citation: "Virginia HB 1778 (2023)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["O'Quinn"]
version_count: 4
action_count: 28
vote_count: 5
first_action: "2023-01-10"
last_action: "2023-03-26"
source: "openstates"
source_identifier: "ocd-bill/ea0411ae-9947-43d6-a4a7-c48604f80c92"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+HB1778"
source_hash: "38a5abcf526e76f1b276192554d3489317e6331a07785f97939637413b1ffddc"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-va"]
---

# Virginia HB 1778 (2023) — Financial institutions; certain investments by banks permitted.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **CHAP0543** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+CHAP0543)
2. **HB1778ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB1778ER)
3. **Prefiled and ordered printed; offered 01/11/23 23102044D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB1778)
4. **Printed as engrossed 23102044D-E** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB1778E)

## Votes

- VOTE: (99-Y 0-N) — **0–0** (fail) · lower
- Passed Senate (40-Y 0-N) — **0–0** (fail) · upper
- Reported from Commerce and Labor (15-Y 0-N) — **0–0** (fail) · upper
- Constitutional reading dispensed (40-Y 0-N) — **0–0** (fail) · upper
- Reported from Commerce and Energy with amendment(s) (21-Y 0-N) — **0–0** (fail) · lower

## Sponsors

- O'Quinn — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-01-10** Prefiled and ordered printed; offered 01/11/23 23102044D `filing, introduction`
- **2023-01-10** Referred to Committee on Commerce and Energy `referral-committee`
- **2023-01-17** House committee, floor amendments and substitutes offered
- **2023-01-17** Reported from Commerce and Energy with amendment(s) (21-Y 0-N) `committee-passage`
- **2023-01-18** Impact statement from SCC (HB1778)
- **2023-01-19** Read first time `reading-1`
- **2023-01-20** Read second time `reading-2`
- **2023-01-20** Committee amendments agreed to `amendment-passage`
- **2023-01-20** Engrossed by House as amended HB1778E
- **2023-01-20** Printed as engrossed 23102044D-E
- **2023-01-23** Read third time and passed House BLOCK VOTE (99-Y 0-N) `passage, reading-3`
- **2023-01-23** VOTE: (99-Y 0-N)
- **2023-01-24** Constitutional reading dispensed
- **2023-01-24** Referred to Committee on Commerce and Labor `referral-committee`
- **2023-01-31** Impact statement from SCC (HB1778E)
- **2023-02-13** Reported from Commerce and Labor (15-Y 0-N) `committee-passage`
- **2023-02-15** Constitutional reading dispensed (40-Y 0-N)
- **2023-02-16** Read third time `reading-3`
- **2023-02-16** Passed Senate (40-Y 0-N) `passage`
- **2023-02-21** Enrolled `enrolled`
- **2023-02-21** Bill text as passed House and Senate (HB1778ER) `passage`
- **2023-02-21** Impact statement from SCC (HB1778ER)
- **2023-02-21** Signed by Speaker `passage`
- **2023-02-23** Signed by President `passage`
- **2023-03-02** Enrolled Bill communicated to Governor on March 2, 2023 `enrolled, executive-receipt`
- **2023-03-02** Governor's Action Deadline 11:59 p.m., March 27, 2023 `executive-receipt`
- **2023-03-26** Approved by Governor-Chapter 543 (effective 7/1/23) `executive-signature`
- **2023-03-26** Acts of Assembly Chapter text (CHAP0543)

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/ea0411ae-9947-43d6-a4a7-c48604f80c92`. Confidence: reported (aggregated from official Virginia legislature records).