republic-os/legislation/us/states/va/2017/hb-1542.md

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type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	Home service contract providers; shifts responsibility for regulating to Commissioner of the DACS.	Shifts responsibility for regulating home service contract providers from the State Corporation Commission to the Commissioner of the Department of Agriculture and Consumer Services. The measure provides that home service contracts are not contracts of insurance and are not subject to regulation under the Commonwealth's insurance laws. Home service contracts are agreements to perform the service repair, replacement, or maintenance, or indemnification therefor, with regard to components, parts, appliances, or systems of a residential home property. Providers of such contracts are required to register with the Commissioner, which registration shall not require filing of forms or rate information. Providers are required to maintain a funded reserve account for their obligations under the contracts that is not less than 40 percent of gross consideration received, less claims paid, on the sale of the home service contract for all in-force home service contracts sold in the Commonwealth. Providers are also required to file a bond with the Commissioner. In lieu of the requirements for a reserve account and bond, a provider may demonstrate financial responsibility by filing a copy of a liability insurance policy that covers 100 percent of the provider's home service contract liabilities. The measure includes provisions addressing the adoption of regulations, investigations, production of records, and penalties for violations that are similar to the existing provisions applicable to extended service contract providers. Providers with a net worth in excess of $100 million are exempt from the provisions of the measure. Certain maintenance and service agreements are exempted. The measure includes a minimum tax provision that requires such entities to pay income tax at a level that provides the same revenue as is currently paid in gross premium tax. The minimum tax is in lieu of all other state and local license fees or license taxes on providers and home service contracts. The measure has a delayed effective date of January 1, 2018.	us/states/va	Virginia General Assembly	2017	HB 1542	Virginia HB 1542 (2017)	bill	Insurance Trade and Commerce	enacted	Terry G. Kilgore	5	22	8	2016-12-28	2017-03-24	openstates	ocd-bill/d28a4dea-da71-45ee-b00b-9135ddd54c22	http://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+HB1542	e9bfae7bc83bd96b572e6835fbd598ea57aabc924b39855563a7b926c4980f44	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-va

Virginia HB 1542 (2017) — Home service contract providers; shifts responsibility for regulating to Commissioner of the DACS.

Shifts responsibility for regulating home service contract providers from the State Corporation Commission to the Commissioner of the Department of Agriculture and Consumer Services. The measure provides that home service contracts are not contracts of insurance and are not subject to regulation under the Commonwealth's insurance laws. Home service contracts are agreements to perform the service repair, replacement, or maintenance, or indemnification therefor, with regard to components, parts, appliances, or systems of a residential home property. Providers of such contracts are required to register with the Commissioner, which registration shall not require filing of forms or rate information. Providers are required to maintain a funded reserve account for their obligations under the contracts that is not less than 40 percent of gross consideration received, less claims paid, on the sale of the home service contract for all in-force home service contracts sold in the Commonwealth. Providers are also required to file a bond with the Commissioner. In lieu of the requirements for a reserve account and bond, a provider may demonstrate financial responsibility by filing a copy of a liability insurance policy that covers 100 percent of the provider's home service contract liabilities. The measure includes provisions addressing the adoption of regulations, investigations, production of records, and penalties for violations that are similar to the existing provisions applicable to extended service contract providers. Providers with a net worth in excess of $100 million are exempt from the provisions of the measure. Certain maintenance and service agreements are exempted. The measure includes a minimum tax provision that requires such entities to pay income tax at a level that provides the same revenue as is currently paid in gross premium tax. The minimum tax is in lieu of all other state and local license fees or license taxes on providers and home service contracts. The measure has a delayed effective date of January 1, 2018.

Version chain

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

1. Governor: Acts of Assembly Chapter text (CHAP0727) (committee substitute) — source
2. House: Bill text as passed House and Senate (HB1542ER) (committee substitute) — source
3. House: Committee substitute printed 17104686D-H1 (committee substitute) — source
4. House: Prefiled and ordered printed; offered 01/11/17 17100808D (committee substitute) — source
5. Senate: Committee substitute printed 17105419D-S1 (committee substitute) — source

Votes

• Passed Senate with substitute — 39–0 (pass) · legislature
• Constitutional reading dispensed — 40–0 (pass) · legislature
• Read third time and passed House — 94–1 (pass) · legislature
• Reconsideration of Senate passage agreed to by Senate — 40–0 (pass) · legislature
• Senate substitute agreed to by House 17105419D-S1 — 93–1 (pass) · legislature
• Reported from Commerce and Labor with substitute — 14–0 (pass) · legislature
• Passed Senate with substitute — 40–0 (pass) · legislature
• Reported from Commerce and Labor with substitute — 21–0 (pass) · legislature

Sponsors

• Terry G. Kilgore — primary (person)

Timeline

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

• 2016-12-28 Prefiled and ordered printed; offered 01/11/17 17100808D introduction
• 2016-12-28 Referred to Committee on Commerce and Labor referral-committee
• 2017-01-30 Read first time reading-1
• 2017-01-31 Passed by for the day
• 2017-02-01 Read second time reading-2
• 2017-02-01 Committee substitute agreed to 17104686D-H1
• 2017-02-01 Engrossed by House - committee substitute HB1542H1
• 2017-02-02 Read third time and passed House (94-Y 1-N) passage, reading-3
• 2017-02-03 Constitutional reading dispensed
• 2017-02-03 Referred to Committee on Commerce and Labor referral-committee
• 2017-02-16 Read third time reading-3
• 2017-02-16 Reading of substitute waived
• 2017-02-16 Committee substitute agreed to 17105419D-S1
• 2017-02-16 Engrossed by Senate - committee substitute HB1542S1
• 2017-02-20 Placed on Calendar
• 2017-02-20 Senate substitute agreed to by House 17105419D-S1 (93-Y 1-N)
• 2017-02-23 Enrolled
• 2017-02-23 Signed by Speaker
• 2017-02-24 Signed by President
• 2017-02-28 Enrolled Bill communicated to Governor on 2/28/17
• 2017-02-28 Governor's Action Deadline Midnight, March 27, 2017
• 2017-03-24 Approved by Governor-Chapter 727 (effective 1/1/18) executive-signature

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/d28a4dea-da71-45ee-b00b-9135ddd54c22. Confidence: reported (aggregated from official Virginia legislature records).