republic-os/legislation/us/states/va/2020/hb-154.md

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

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	Reinsurance credits; conforms Virginia's law regarding credits to insurers for reinsurance, etc.	Reinsurance credits. Conforms Virginia's law regarding credits to insurers for reinsurance ceded to approved assuming insurers to the provisions of the Credit for Reinsurance Model Law of the National Association of Insurance Commissioners. The bill eliminates the reinsurance collateral requirements for assuming insurers that are domiciled in or have their head office in a reciprocal jurisdiction, which is defined in the bill. Under the bill, such assuming insurers are required to maintain a minimum capital and surplus, maintain a minimal solvency or capital ratio, as applicable, and provide notice to the State Corporation Commission in the event of noncompliance of any requirements. The bill requires the Commission to create and publish a list of reciprocal jurisdictions and assuming insurers.	us/states/va	Virginia General Assembly	2020	HB 154	Virginia HB 154 (2020)	bill		enacted	Terry G. Kilgore	4	26	5	2019-12-19	2020-03-10	openstates	ocd-bill/32059dd9-bb93-484b-b735-9c2205d6560c	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB154	9a6c6e6a31d0a2071afa197740facf8eb8da895f1eb1190258d631dc758231b2	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-va

Virginia HB 154 (2020) — Reinsurance credits; conforms Virginia's law regarding credits to insurers for reinsurance, etc.

Reinsurance credits. Conforms Virginia's law regarding credits to insurers for reinsurance ceded to approved assuming insurers to the provisions of the Credit for Reinsurance Model Law of the National Association of Insurance Commissioners. The bill eliminates the reinsurance collateral requirements for assuming insurers that are domiciled in or have their head office in a reciprocal jurisdiction, which is defined in the bill. Under the bill, such assuming insurers are required to maintain a minimum capital and surplus, maintain a minimal solvency or capital ratio, as applicable, and provide notice to the State Corporation Commission in the event of noncompliance of any requirements. The bill requires the Commission to create and publish a list of reciprocal jurisdictions and assuming insurers.

Version chain

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

1. Acts of Assembly Chapter text (CHAP0208) (committee substitute) — source
2. Bill text as passed House and Senate (HB154ER) (committee substitute) — source
3. Engrossed by House - committee substitute HB154H1 (committee substitute) — source
4. Impact statement from SCC (HB154) (committee substitute) — source

Votes

• Reported from Commerce and Labor (15-Y 0-N) — 15–0 (pass) · upper
• Constitutional reading dispensed (39-Y 0-N) — 39–0 (pass) · upper
• Passed Senate (40-Y 0-N) — 40–0 (pass) · upper
• Reported from Labor and Commerce with substitute (22-Y 0-N) — 22–0 (pass) · lower
• VOTE: (100-Y 0-N) — 99–0 (pass) · lower

Sponsors

• Terry G. Kilgore — primary (person)

Timeline

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

• 2019-12-19 Prefiled and ordered printed; offered 01/08/20 20102589D introduction
• 2019-12-19 Referred to Committee on Labor and Commerce referral-committee
• 2020-01-11 Impact statement from SCC (HB154)
• 2020-01-16 House committee, floor amendments and substitutes offered
• 2020-01-16 Reported from Labor and Commerce with substitute (22-Y 0-N) committee-passage
• 2020-01-16 Committee substitute printed 20104676D-H1 substitution
• 2020-01-20 Read first time reading-1
• 2020-01-21 Read second time reading-2
• 2020-01-21 Committee substitute agreed to 20104676D-H1
• 2020-01-21 Engrossed by House - committee substitute HB154H1
• 2020-01-22 Impact statement from SCC (HB154H1)
• 2020-01-22 Read third time and passed House BLOCK VOTE (100-Y 0-N) passage, reading-3
• 2020-01-22 VOTE: (100-Y 0-N)
• 2020-01-23 Constitutional reading dispensed
• 2020-01-23 Referred to Committee on Commerce and Labor referral-committee
• 2020-02-17 Reported from Commerce and Labor (15-Y 0-N) committee-passage
• 2020-02-19 Constitutional reading dispensed (39-Y 0-N)
• 2020-02-20 Read third time reading-3
• 2020-02-20 Passed Senate (40-Y 0-N) passage
• 2020-02-25 Enrolled
• 2020-02-25 Impact statement from SCC (HB154ER)
• 2020-02-25 Signed by Speaker
• 2020-02-26 Signed by President
• 2020-03-03 Enrolled Bill communicated to Governor on March 3, 2020
• 2020-03-03 Governor's Action Deadline 11:59 p.m., March 10, 2020
• 2020-03-10 Approved by Governor-Chapter 208 (effective 7/1/20) executive-signature

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/32059dd9-bb93-484b-b735-9c2205d6560c. Confidence: reported (aggregated from official Virginia legislature records).