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2004 SESSION

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Senate Committee on Commerce and Labor

Chairman: William C. Wampler, Jr.

Date of Meeting: March 8, 2004
Time and Place:

H.B. 59

Patron: Parrish

Electric utility restructuring; electrical generating facility certificates. Extends by two years the expiration date of certificates granted by the State Corporation Commission to construct and operate electrical generating facilities for which applications were filed with the Commission prior to July 1, 2002. This bill identical to SB 239.

H.B. 529

Patron: Hogan

Unemployment compensation; definition of employment services. Excludes from the definition of "employment services," for the purposes of unemployment compensation benefits, work performed by an inmate of a custodial or penal institution for the institution or while in the Diversion Center Incarceration Program. In a conforming amendment, the bill eliminates the exemption of employers with regard to such inmates from responsibility for benefit charging.

H.B. 686

Patron: Rapp

Price gouging. Prohibits suppliers from selling, leasing, or licensing necessary goods and services during times of disaster at an unconscionable price. To determine whether a price increase is unconscionable, the court must consider, among other factors, whether the price charged by the supplier during the time of disaster grossly exceeded the price at which the same or similar goods or services were readily obtainable in the trade area during the 10 days prior to the time of disaster. A violation constitutes a prohibited practice under the Virginia Consumer Protection Act, though aggrieved persons will not be able to bring a private cause of action. This bill incorporates HB 971 and is identical to SB 242.

H.B. 688

Patron: Morgan

Payday Loan Act; requirements; charges. Requires payday lenders to retain their borrowers' checks. The bill prohibits application of post-maturity interest to loan fees and limits borrowers' right to make partial payments to the period prior to loan maturity. Payday lenders are required to return paid loan agreements to borrowers marked "paid" or "canceled" and to keep copies of such agreements. The measure also provides that the Payday Loan Act's provisions exclusively control the post-judgment interest and other charges and expenses payday lenders may recover from borrowers.

H.B. 754

Patron: May

Public service companies; limited liability companies. Provides that limited liability companies that have been issued a certificate of public convenience and necessity by the State Corporation Commission authorizing them to furnish the services of a public utility are public service companies for purposes of Title 56 unless otherwise indicated. The bill gives such limited liability companies the same powers already conferred upon public service corporations (i) to enter upon the lands or waters of any person in order to conduct examinations or surveys relating to proposed or existing lines or works and (ii) to acquire property by the exercise of the right of eminent domain. The bill contains a provision stating that it does not apply to actions for damages to persons or property done by such a limited liability company that are sustained prior to July 1, 2004.

H.B. 1155

Patron: Morgan

Interstate Insurance Product Regulation Compact. Provides that Virginia is a Compacting State under the Interstate Insurance Product Regulation Compact. The Compact is intended to: (i) promote and protect the interest of consumers of individual and group annuity, life insurance, disability income, and long-term care insurance products; (ii) develop uniform standards for those insurance products; (iii) act as a central clearinghouse to review insurance products and advertisements; (iv) approve product filings and advertisements; (v) improve coordination of regulatory resources and expertise among state insurance departments regarding uniform standards and review of relevant insurance products; (vi) create the Interstate Insurance Product Regulation Commission, and (vii) perform other related functions consistent with state regulation of the business of insurance. This bill also appoints the Commissioner of Insurance as the Commonwealth's representative to the Interstate Insurance Product Regulation Commission.

H.B. 1288

Patron: Tata

Unemployment compensation; quit to follow military spouse. Provides that good cause for leaving employment exists if an employee voluntarily leaves a job to accompany his spouse to a new military assignment from which the employee's place of employment is not reasonably accessible. Benefits paid to qualifying claimants shall be charged against the pool rather than against the claimant's employer. This bill incorporates HB 177.