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

---
type: "Bill"
title: "Reinsurance credits; conforms Virginia's law regarding credits to insurers for reinsurance, etc."
description: "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."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2020"
identifier: "HB 154"
citation: "Virginia HB 154 (2020)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Terry G. Kilgore"]
version_count: 4
action_count: 26
vote_count: 5
first_action: "2019-12-19"
last_action: "2020-03-10"
source: "openstates"
source_identifier: "ocd-bill/32059dd9-bb93-484b-b735-9c2205d6560c"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB154"
source_hash: "9a6c6e6a31d0a2071afa197740facf8eb8da895f1eb1190258d631dc758231b2"
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 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](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0208)
2. **Bill text as passed House and Senate (HB154ER)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB154ER)
3. **Engrossed by House - committee substitute HB154H1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB154H1)
4. **Impact statement from SCC (HB154)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB154)

## 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](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/32059dd9-bb93-484b-b735-9c2205d6560c`. Confidence: reported (aggregated from official Virginia legislature records).