Fabio
5.7 KiB
5.7 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
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| Bill | Financial institutions; regulation of money transmitters, penalty, effective date. | Financial institutions; regulation of money transmitters; penalty. Replaces existing state law regulating money transmitters with comprehensive provisions aimed at standardizing the regulation of money transmitters across the 50 states. The bill includes provisions for the licensure of money transmitters, supervision and implementation by the State Corporation Commission, acquisition of control of a licensee, mandatory disclosures, reporting and records requirements, authorized delegates, mandatory disclosures, prudential standards, and enforcement. The bill has a delayed effective date of July 1, 2026. | us/states/va | Virginia General Assembly | 2025 | HB 1942 | Virginia HB 1942 (2025) |
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enacted |
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4 | 31 | 7 | 2025-01-06 | 2025-03-21 | openstates | ocd-bill/1f2616c3-4478-4830-9c9f-dfef88adfdd3 | https://lis.virginia.gov/bill-details/20251/HB1942 | ac1a61619d0de43f53989175864dc3804f450766160f566858b6c3a0dd33cbe8 | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Virginia HB 1942 (2025) — Financial institutions; regulation of money transmitters, penalty, effective date.
Financial institutions; regulation of money transmitters; penalty. Replaces existing state law regulating money transmitters with comprehensive provisions aimed at standardizing the regulation of money transmitters across the 50 states. The bill includes provisions for the licensure of money transmitters, supervision and implementation by the State Corporation Commission, acquisition of control of a licensee, mandatory disclosures, reporting and records requirements, authorized delegates, mandatory disclosures, prudential standards, and enforcement. The bill has a delayed effective date of July 1, 2026.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
- Introduced (filed) — source
- Chaptered (committee substitute) — source
- Commerce and Labor Substitute (committee substitute) — source
- Enrolled (enrolled) — source
Votes
- Passed Senate (40-Y 0-N) — 40–0 (pass) · upper
- Subcommittee recommends reporting (7-Y 0-N) — 7–0 (pass) · lower
- Reported from Commerce and Labor with substitute (15-Y 0-N) — 15–0 (pass) · upper
- Read third time and passed House (95-Y 3-N) — 95–3 (pass) · lower
- Constitutional reading dispensed (on 2nd reading) (40-Y 0-N) — 40–0 (pass) · upper
- Reported from Labor and Commerce (21-Y 1-N) — 21–1 (pass) · lower
- Senate substitute agreed to by House (89-Y 9-N) — 89–9 (pass) · lower
Sponsors
- Joshua G. Cole — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2025-01-06 Prefiled and ordered printed; Offered 01-13-2025 25102855D
filing, introduction - 2025-01-06 Referred to Committee on Labor and Commerce
referral-committee - 2025-01-14 Assigned L & C sub: Subcommittee #1
referral-committee - 2025-01-16 Fiscal Impact Statement from State Corporation Commission (HB1942)
- 2025-01-28 Subcommittee recommends reporting (7-Y 0-N)
- 2025-01-30 Reported from Labor and Commerce (21-Y 1-N)
committee-passage - 2025-02-02 Read first time
reading-1 - 2025-02-03 Read second time and engrossed
reading-2 - 2025-02-04 Read third time and passed House (95-Y 3-N)
passage, reading-3 - 2025-02-05 Constitutional reading dispensed (on 1st reading)
- 2025-02-05 Referred to Committee on Commerce and Labor
referral-committee - 2025-02-17 Reported from Commerce and Labor with substitute (15-Y 0-N)
committee-passage - 2025-02-17 Committee substitute printed 25107314D-S1
substitution - 2025-02-18 Rules suspended
- 2025-02-18 Constitutional reading dispensed (on 2nd reading) (40-Y 0-N)
- 2025-02-18 Passed by for the day
- 2025-02-19 Read third time
reading-3 - 2025-02-19 Reading of substitute waived
- 2025-02-19 Commerce and Labor Substitute agreed to
- 2025-02-19 Engrossed by Senate - committee substitute
substitution - 2025-02-19 Passed Senate with substitute (40-Y 0-N)
passage - 2025-02-20 Senate substitute agreed to by House (89-Y 9-N)
substitution - 2025-03-07 Enrolled
enrolled - 2025-03-07 Bill text as passed House and Senate (HB1942ER)
passage - 2025-03-07 Signed by Speaker
passage - 2025-03-10 Signed by President
passage - 2025-03-11 Enrolled Bill communicated to Governor on March 11, 2025
enrolled, executive-receipt - 2025-03-11 Governor's Action Deadline 11:59 p.m., March 24, 2025
executive-receipt - 2025-03-19 Fiscal Impact Statement from State Corporation Commission (HB1942)
- 2025-03-21 Approved by Governor-Chapter 214 (Effective 07/01/26)
executive-signature - 2025-03-21 Acts of Assembly Chapter text (CHAP0214)
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/1f2616c3-4478-4830-9c9f-dfef88adfdd3. Confidence: reported (aggregated from official Virginia legislature records).