Fabio
6.9 KiB
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 | |||||
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| Bill | Preneed funeral contracts; removes requirement relating to life insurance or annuity contract. | Preneed funeral contracts; emergency. Removes the requirement that if a life insurance or annuity contract is used to fund a preneed funeral contract, the life insurance or annuity contract must provide either that the face value thereof shall be adjusted annually by a factor equal to the annualized Consumer Price Index as published by the Bureau of Labor Statistics of the United States Department of Labor, or a benefit payable at death under such contract that will equal or exceed the sum of all premiums paid for such contract plus interest or dividends, which for the first 15 years shall be compounded annually at a rate of at least five percent. The bill also removes the requirement that interest or dividends continue to be paid after 15 years. The bill provides that for any life insurance or annuity contract that is used to fund a preneed funeral contract, the face amount of any life insurance policy shall not be decreased over the life of such policy except for life insurance policies that have lapsed due to the nonpayment of premiums or have gone to a nonforfeiture option that lowers the amount as allowed for in the provisions of the policy. The bill contains an emergency clause. | us/states/va | Virginia General Assembly | 2022 | HB 1269 | Virginia HB 1269 (2022) |
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enacted |
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4 | 31 | 7 | 2022-01-20 | 2022-03-09 | openstates | ocd-bill/aa55c50c-31f0-4b65-86b0-af300db8d550 | https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+HB1269 | 2c3154f53cf12526127da15c89be596f462e3f7ed04cbe64c5771d900dbf93c1 | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Virginia HB 1269 (2022) — Preneed funeral contracts; removes requirement relating to life insurance or annuity contract.
Preneed funeral contracts; emergency. Removes the requirement that if a life insurance or annuity contract is used to fund a preneed funeral contract, the life insurance or annuity contract must provide either that the face value thereof shall be adjusted annually by a factor equal to the annualized Consumer Price Index as published by the Bureau of Labor Statistics of the United States Department of Labor, or a benefit payable at death under such contract that will equal or exceed the sum of all premiums paid for such contract plus interest or dividends, which for the first 15 years shall be compounded annually at a rate of at least five percent. The bill also removes the requirement that interest or dividends continue to be paid after 15 years. The bill provides that for any life insurance or annuity contract that is used to fund a preneed funeral contract, the face amount of any life insurance policy shall not be decreased over the life of such policy except for life insurance policies that have lapsed due to the nonpayment of premiums or have gone to a nonforfeiture option that lowers the amount as allowed for in the provisions of the policy. The bill contains an emergency clause.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
- CHAP0018 (committee substitute) — source
- Committee substitute printed 22105126D-H1 (committee substitute) — source
- HB1269ER (committee substitute) — source
- Presented and ordered printed 22103770D (committee substitute) — source
Votes
- VOTE: Passage Emergency (80-Y 20-N) — 79–20 (pass) · lower
- Constitutional reading dispensed (39-Y 0-N) — 39–0 (pass) · upper
- Reported from General Laws and Technology (15-Y 0-N) — 15–0 (pass) · upper
- Reported from General Laws with substitute (21-Y 1-N) — 21–1 (pass) · lower
- Subcommittee recommends reporting with substitute (8-Y 0-N) — 8–0 (pass) · lower
- Passed Senate (40-Y 0-N) — 40–0 (pass) · upper
- Subcommittee recommends reporting with substitute (8-Y 0-N) — 8–0 (pass) · lower
Sponsors
- Christopher T. Head — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2022-01-20 Presented and ordered printed 22103770D
introduction - 2022-01-20 Referred to Committee on General Laws
referral-committee - 2022-01-28 Impact statement from DPB (HB1269)
- 2022-02-03 Assigned GL sub: Subcommittee #1
referral-committee - 2022-02-10 House subcommittee amendments and substitutes offered
- 2022-02-10 Subcommittee recommends reporting with substitute (8-Y 0-N)
- 2022-02-10 Subcommittee recommends reporting with substitute (8-Y 0-N)
- 2022-02-10 House committee, floor amendments and substitutes offered
- 2022-02-10 Reported from General Laws with substitute (21-Y 1-N)
committee-passage - 2022-02-10 Committee substitute printed 22105126D-H1
substitution - 2022-02-13 Read first time
reading-1 - 2022-02-14 Impact statement from DPB (HB1269H1)
- 2022-02-14 Read second time
reading-2 - 2022-02-14 Committee substitute agreed to 22105126D-H1
- 2022-02-14 Emergency clause added
- 2022-02-14 Engrossed by House - committee substitute HB1269H1
- 2022-02-15 Read third time and passed House (80-Y 20-N)
passage, reading-3 - 2022-02-15 VOTE: Passage Emergency (80-Y 20-N)
- 2022-02-16 Constitutional reading dispensed
- 2022-02-16 Referred to Committee on General Laws and Technology
referral-committee - 2022-02-23 Reported from General Laws and Technology (15-Y 0-N)
committee-passage - 2022-02-25 Constitutional reading dispensed (39-Y 0-N)
- 2022-02-28 Read third time
reading-3 - 2022-02-28 Passed Senate (40-Y 0-N)
passage - 2022-03-01 Enrolled
- 2022-03-01 Impact statement from DPB (HB1269ER)
- 2022-03-01 Signed by Speaker
- 2022-03-01 Signed by President
- 2022-03-02 Enrolled Bill communicated to Governor on March 2, 2022
- 2022-03-02 Governor's Action Deadline 11:59 p.m., March 9, 2022
- 2022-03-09 Approved by Governor-Chapter 18 (effective 3/9/22)
executive-signature
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/aa55c50c-31f0-4b65-86b0-af300db8d550. Confidence: reported (aggregated from official Virginia legislature records).