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2005 SESSION

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Senate Committee on Commerce and Labor

Chairman: William C. Wampler, Jr.

Clerk: Jocelyn R. Lance
Date of Meeting: February 14, 2005
Time and Place: 1/2 hr. after Session, Senate Room B, GAB

H.B. 814 Homeowners insurance; prohibits policy cancellation or nonrenewal for claims inquiries.

Patron: Eisenberg

Insurance; homeowners; cancellation or nonrenewal; claims inquiries. Prohibits an insurer from canceling or refusing to renew homeowners insurance policies based solely on inquiries from insureds about insurance coverage or policy provisions.  The measure does not apply to notifying the insurer of a loss, incident or accident, or providing information indicating an increase in the hazard insured against.  Insurers are prohibited from reporting inquiries to any loss history database maintained by a consumer reporting agency or insurance support organization.

 

H.B. 1156 Payday loans; cannot make loan to any State consumer, restric. on loan made by military spouse.

Patron: Morgan

Payday lending practices. Prohibits a licensed payday lender from entering into a payday loan with a member of the armed forces from a location that has been declared off-limits by a military base commander.  With respect to payday loans to military personnel or their spouse, lenders shall not garnish military wages or conduct collection activities when the service member is deployed to a combat or combat support posting.  The measure also clarifies that loans based on income tax refunds are not payday loans, and prohibits unlicensed person from engaging in payday loans or arranging or brokering payday loans for consumers residing in Virginia, whether or not the lender has a location in Virginia.

 

H.B. 1492 Medical Savings Account Act; name changed to Health Savings Account Plan, changes in provisions.

Patron: Hamilton

Health savings accounts. Requires the Department of Taxation and the State Corporation Commission to amend the Virginia Medical Savings Account Plan to address the provisions of federal law that permit eligible individuals to establish health savings accounts. The revised plan, to be called the Virginia Health Savings Account Plan, is required to identify measures that will increase the utilization and efficacy of health savings accounts. Existing medical savings accounts may be converted to health savings accounts. Health carriers are expressly authorized to offer high deductible health plans that qualify for and may be offered in conjunction with health savings accounts. Banks, savings institutions, and credit unions are authorized to act as trustees of health savings accounts. No later than July 1, 2006, the health insurance plan for state employees is required to include, as one of the health coverage options offered in each planning district, a high deductible health plan that would qualify for a health savings account. The 2003 federal Medicare legislation authorizes eligible individuals who purchase a high deductible health plan to make tax-deductible contributions into a health savings account, generally up to the amount of the health plan's deductible, and to make tax-free withdrawals from the health savings account to pay for qualified medical expenses. The measure also repeals provisions relating to the establishment of the Virginia Medical Savings Account Plan and the role of the Joint Commission on Health Care in monitoring the Plan.

 

H.B. 1559 Exemptions in bankruptcy; changes in time limitations.

Patron: Sherwood

Exemptions in bankruptcy; time limitations.  Changes the date for setting aside that real or personal property which is exempt from bankruptcy proceedings from on or before the fifth day of the date initially set for the meeting of creditors and equity security holders to on or before the fifth day of the date such meeting is held.

H.B. 1567 Workers' comp.; eligibility of volunteer members of emergency response teams & medical reserve corp.

Patron: Cosgrove

Workers' compensation; compensable employees.  Provides that those volunteer members of community emergency response teams and volunteer members of medical reserve corps who have been acknowledged as employees by the local governing body or state institution of higher education in which the principal office of their team or corps is located are employees of that local government or state institution for workers' compensation purposes. HB 1697 is incorporated.

 

H.B. 1586 Consumer Real Estate Settlement Protection Act; limits separate charge.

Patron: Reese

Consumer Real Estate Settlement Protection Act; separate charge limited.  Prohibits settlement agents from charging more than $20 for complying with requirements that settlement agents collect, maintain, and report to the Department of Taxation information regarding transactions involving the transfer of title to real estate.

H.B. 1728 Workers' compensation; definition of injury for use of a dealer motor vehicle.

Patron: Kilgore

Workers' compensation; demonstrator cars; noncompensable injury, disease, or condition.  Provides that any injury, disease or condition resulting from the use by an employee of a dealer motor vehicle for commuting to or from work or any other non-work activity is not compensable under workers' compensation.

 

H.B. 1777 Consumer Finance Act; licensure of lenders.

Patron: Purkey

Consumer Finance Act licensing.  Requires a person to seek approval from the State Corporation Commission prior to acquiring 25 percent or more of the ownership interest in a lender licensed under the Consumer Finance Act. The measure also updates the Act by modifying the contents of the application for licensure, establishing qualifications for principals of new licensees, and requiring licensees to give notice to the Commissioner of the Bureau of Financial Institutions of the opening or closing of offices and of changes in senior officers, members, partners, and directors.

H.B. 1792 Ultralight aircraft; insurance requirements.

Patron: Cox

Aircraft insurance requirements.  Allows proof of financial responsibility with respect to ultralight aircraft to be satisfied by a liability insurance policy issued by a surplus lines carrier. Currently, ultralight aircraft may be insured by a single-limit policy with limits of $100,000, but the policy must be issued by an insurance company licensed in Virginia. Insurance on other types of aircraft may currently be obtained either from a licensed insurance company or through a surplus lines broker.

H.B. 1804 Voice-over-Internet protocol service; exempt from regulation by State Corporation Commission.

Patron: Marshall, R.G.

Voice-over-Internet protocol service.  Eliminates any jurisdiction of the State Corporation Commission to regulate voice-over-Internet protocol service. Voice-over-Internet protocol service is excluded from the scope of the definitions of telephone service, telecommunications service, local exchange telephone service, and interexchange telephone service. Voice-over-Internet protocol service includes any Internet protocol enabled service utilizing a broadband connection.

 

H.B. 1829 Business Trust Act; names of business entities. emergency.

Patron: Parrish

Names of business entities; emergency.  Clarifies that the words permitted to be in a business trust name pursuant to the Business Trust Act can be considered in determining whether a corporate, limited liability company, business trust or limited partnership name is distinguishable from the names of other such entities that have been recorded, reserved or registered in the office of the clerk of the State Corporation Commission. The measure also narrows existing cross-references and makes technical corrections.

EMERGENCY

H.B. 1831 Judicial Retirement System; mandatory retirement for judges of State Corporation Commission.

Patron: Parrish

Mandatory retirement for judges.  Provides that any judge of the State Corporation Commission who is (i) 70 years old and to be retired before the end of his elected term under otherwise mandatory retirement laws and (ii) to be retired during a session of the General Assembly in which the General Assembly is required to elect another judge or judges of the State Corporation Commission shall be retired upon the first to occur of (a) the expiration of the term to which he was elected or (b) 20 days after the commencing of the regular session of the General Assembly that immediately follows the date the judge turns 72 years old.  Under current law, all judges who turn 70 shall be retired 20 days after the convening of the next regular session of the General Assembly.

H.B. 1834 Discrimination; length of time to report complaint.

Patron: Parrish

Labor violations; time frame for reporting complaint.  Prohibits an employee from seeking any further relief via the administrative process through the Commissioner of Labor and Industry for discharge or discrimination resulting from his reporting health or safety violations if he does not act within 60 days after the discharge or discrimination occurs.

H.B. 1862 Workers' comp.; business entity with controlling interest to register with Worker's Comp. Comm.

Patron: Morgan

Workers' compensation; professional employer organizations.  Authorizes the Workers' Compensation Commission to require a business entity with a controlling interest in or sharing common ownership with any professional employer organization providing services in the Commonwealth to guarantee the performance of all obligations under the Workers' Compensation Act by the non-controlling business entity, including payment of benefits.

 

H.B. 1863 Workers' compensation; failure to insure payment, penalty.

Patron: Morgan

Workers' compensation; failure to insure payment; penalty.  Provides for imposition of civil and criminal penalties on employers that fail to insure payment of workers' compensation to their employees, and for the imposition of civil penalties on employers that fail to comply to with requirements governing professional employer organizations.

H.B. 1882 Miscellaneous casualty insurance; notices and policy provisions.

Patron: Hargrove

Miscellaneous casualty insurance; notices; policy provisions.  Requires insurers deliver written notice of cancellation, renewal, reduction in coverage, or certain rate increases to the named insured under policies of miscellaneous casualty insurance issued to a business entity. Miscellaneous casualty policies insure against liability, and against loss, damage or expense arising out of injury to the economic interests of any person. The measure also requires policies insuring against liability for injury to the economic interests of any person to include provisions regarding the insolvency or bankruptcy of the insurer and when an action may be maintained by the insured against the insurer.

H.B. 1955 Boiler and pressure vessel inspections; expiration of certificate.

Patron: Jones, D.C.

Boiler and pressure vessel inspections; expiration of certificate; inspection by Commonwealth.  Authorizes the Commissioner to assign an agent or special inspector to inspect any boiler or pressure vessel 91 days after certificate expiration and assess an inspection fee against the owner or operator of the boiler or pressure vessel.

H.B. 2010 Judgment; rate of interest.

Patron: Armstrong

Judgment rate of interest.  Provides that the rate of interest on a judgment is that rate in effect at the time of entry of the judgment, and is not affected by any subsequent changes to the statutory rate of interest.

H.B. 2055 Telephone Privacy Protect. Act; prohib. telephone solicitation, date change made consis. w/fed. reg.

Patron: Nixon

Virginia Telephone Privacy Protection Act; telephone solicitation.  Provides that using a version of the National Do Not Call Registry obtained from its administrator no more than 31 days prior to the date of a telephone solicitation call constitutes a reasonable practice and procedure to effectively prevent telephone solicitation calls that would violate the Virginia Telephone Privacy Protection Act. The establishment and implementation of reasonable practices and procedures to effectively prevent such telephone solicitation calls is an affirmative defense to an action claiming a violation of the Act. Currently, such defense is available to telephone solicitors that use a version of the National Do Not Call Registry obtained within three months preceding the date of the call. Reducing the period from three months to 31 days makes the Act consistent with federal regulations.

H.B. 2137 Unemployment tax rate; penalties for transfering any trade or business for a lower tax rate.

Patron: Purkey

Unemployment compensation; state unemployment tax dumping; penalties.  Establishes the civil and criminal penalties that shall be assessed against, and the unemployment compensation tax rates that shall apply to, persons who transfer any trade or business to another where at the time of transfer there is substantially common ownership, management, or control of the trade or business and the sole or primary purpose of the transfer is to obtain a lower unemployment tax rate.

EMERGENCY

H.B. 2143 Accident and sickness insurance; insurer required to provide notice of premium increase.

Patron: Joannou

Notices of health insurance premium increase.  Requires a health insurer, issuer of subscription contracts, or health maintenance organization to provide the required notice of an increase in premium that exceeds 35 percent of the annual premium to the designated consultant or other agent of the policyholder, contract holder, or subscriber, if requested in writing. Currently, the notice is required to be given at least 60 days prior to the proposed renewal of coverage to the policyholder, contract holder, or subscriber.

H.B. 2207 Enterprise zones; repeals sunset provision.

Patron: Marrs

Trade and commerce; enterprise zones.  Extends the sunset provision of the Enterprise Zone Act to expire July 1, 2007, and changes the "qualified zone resident" definition to eliminate the requirement that the owner or tenant of the property actually conduct the business.

H.B. 2219 Insurance; insurer may cap renewal rates for certain policies.

Patron: Hargrove

Insurance rates; policies acquired from other insurers.  Clarifies that an insurer may cap the renewal rates for policies that have been transferred from another insurer pursuant to a merger, acquisition, or sale, to the same extent that such rates may be capped for policyholders whose coverage is continued by that insurer.

H.B. 2286 Extended service contract; increases fee for registering or renewing registration.

Patron: Brink

Extended Service Contract Act.  Increases the fee for registering or renewing a registration under the Extended Service Contract Act from $100 to $300. The measure also imposes late fees of $100 per 30 day period or portion thereof that an obligor is late in registering and $50 per 30 day period or portion thereof that an obligor is late in renewing its registration. A registration or renewal is not to be considered filed until all required information and fees are submitted. Finally, the measure specifies that registrations be renewed annually on July 1.

H.B. 2367 Fees; waiver for filing erroneous financing statements.

Patron: Bryant

Waiver of filing fees; erroneous financing statements.  Authorizes the State Corporation Commission to waive the fee for filing a termination statement or correction statement with respect to a financing statement that falsely identified a person as a debtor. 

H.B. 2410 Medical malpractice insurance; cancellation or nonrenewal notice of policy.

Patron: Rust

Medical malpractice insurance; notice of policy changes.  Requires insurers to provide no less than 90 days notice of a cancellation or non-renewal of, or a premium increase of more than 25 percent for, a medical malpractice insurance policy. If cancellation or non-renewal of such a policy is for nonpayment of the premium, the cancellation or non-renewal will be effective not less than 15 days from the date of mailing or delivery of the notice.  For all other liability insurance policies, 45 days notice of a 25 percent increase in the premium, rather than in the filed rate, is required.

 

H.B. 2416 Unemployment compensation; changes in provisions.

Patron: Armstrong

Unemployment compensation; obsolete references. Replaces obsolete references to Operation Desert Shield and Operation Desert Storm with a broad reference to "international conflict," and removes a reference to a repealed Code section.

 

H.B. 2457 Money transmission services; exemption from licensure.

Patron: Ware, R.L.

Money transmission services; exemption from licensure.  Exempts a person, firm, corporation or other entity from the requirement that it be licensed by the State Corporation Commission to engage in the business of money transmission, to the extent providing money transmission services to or for banks or other financial institutions.

 

H.B. 2571 Banks; enumerates business activities in which authorized to engage.

Patron: Dudley

Business of banks.  Enumerates the business activities in which banks are authorized to engage. Banks are authorized to engage directly in activities in which a controlled subsidiary corporation may engage, including transacting business as a real estate brokerage firm. Other enumerated business activities include acting as an agent in the sale of insurance and annuities; dealing in or making a market in securities; providing financial, investment, or economic advisory services; and providing other products and services that the State Corporation Commission deems to be financial in nature.

H.B. 2681 Nat'l disaster damage assessment; permits discl. to state, federal, etc. gov.t for property damage.

Patron: Lingamfelter

Disclosure of insurance information; natural disaster damage assessments.  Permits the disclosure to state, federal, and local government officials of certain aggregated information involving property damage resulting from natural disasters.

H.B. 2693 Unemployment compensation; benefit termination by employer for misconduct.

Patron: Pollard

Unemployment compensation; termination by reimbursable employer for misconduct.  Provides that benefits based on service with a reimbursable employer shall not be paid to a claimant where the claimant was terminated for misconduct in relation to his work and allows a reimbursable employer to contest the claim for benefits even though it does not qualify as the last 30-day employer. These provisions are not applicable to reimbursable employers who also are the last 30-day employer given the ability of such employers under current law to contest claims for unemployment compensation on the basis of claimant misconduct.

H.B. 2766 Life insurance; person may take out contract upon himself for another's benefit.

Patron: Griffith

Life insurance; insurable interests.  Eliminates a provision that currently allows a person to procure an insurance contract upon another individual when the benefits are payable to a beneficiary designated by the insured, if the beneficiary did not have an insurable interest in the insured when the contract was made.  The measure provides that a lawful and substantial economic interest, which constitutes an insurable interest, is deemed to exist in parties to a contract for the purchase or sale of a business firm or in trustees of certain trusts.  The measure does not apply to life insurance policies or contracts where, prior to December 31, 2004, a Virginia-headquartered charitable organization executed a nondisclosure and exclusivity agreement and was the holder of a charitable certificate issued prior to that date, if the policies or contracts are written on individuals who were donors to such a charitable organization or an organization under common control with the charitable organization.

 

H.B. 2840 Unemployment compensation; weekly benefit amount.

Patron: Keister

Unemployment compensation; wage offsets.  Increases the cap on allowable weekly wages for eligible individuals prior to benefit offset from $25 to $50.