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2008 SESSION

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Senate Committee on Commerce and Labor

Chairman: Richard L. Saslaw

Clerk: Martha Turner
Staff: Frank Munyan
Date of Meeting: February 4, 2008
Time and Place: Monday, Feb. 4; 1/2 hour after adjournment; Senate Room B; GAB

S.B. 21 Electric utility rates; margins from off-system sales.

Patron: Reynolds

Electric utility rates; margins from off-system sales.  Eliminates the requirement that 75 percent of the total annual margins from an electric utility's off-system sales of power be credited against the utility's fuel factor expenses, in the absence of a finding by clear and convincing evidence that a smaller percentage is in the public interest.  The measure provides that the State Corporation Commission shall determine the percentage of such margins to be credited against fuel factor expenses that is in the public interest.

A BILL to amend and reenact § 56-249.6 of the Code of Virginia, relating to electric utility rates; revenues associated with off-system sales.

080023316

S.B. 24 Payday lending charges; establishing maximum annual interest rate.

Patron: Reynolds

Payday lending charges.  Establishes a maximum annual interest rate for payday loans of 36 percent.  References in the Payday Loan Act to the fee that may be charged on such loans are revised to refer to the interest that may be charged.

A BILL to amend and reenact §§ 6.1-459, 6.1-460, and 6.1-461 of the Code of Virginia, relating to payday loan charges.

087857316

S.B. 25 Payday Loan Act; repealing Act referring thereto.

Patron: Reynolds

Payday Loan Act.  Repeals the Payday Loan Act effective July 1, 2008.

A BILL to amend and reenact §§ 6.1-249, 6.1-330.55, 6.1-439, and 59.1-200 of the Code of Virginia and to repeal Chapter 18 (§§ 6.1-444 through 6.1-471) of Title 6.1 of the Code of Virginia, relating to the Payday Loan Act.

087858316

S.B. 91 Electricity rates; adjustment clauses.

Patron: Reynolds

Electricity rates; adjustment clauses.  Provides the State Corporation Commission with authority to review the recovery by electric utilities of certain expenses that will be recoverable under current law through rate adjustment clauses. The utility expenses will instead be subject to review as part of the biennial rate review of the utility's total revenues and expenses. Items that are scheduled to be recoverable through rate adjustment clauses include (i) costs for transmission services; (ii) deferred environmental and reliability costs; (iii) costs of providing incentives for the utility to design and operate fair and effective demand-management, conservation, energy efficiency, and load management programs; (iv) costs of participation in the renewable energy portfolio standard program; (v) costs of projects that the SCC finds to be necessary to comply with state or federal environmental laws or regulations applicable to generation facilities used to serve the utility’s native load obligations, and (vi) costs of certain generation projects, including Dominion's proposed coal-fired plant in Southwest Virginia. Provisions that limit the SCC's discretion regarding any incentive return for new generation facilities are repealed.

A BILL to amend and reenact §§ 56-582, 56-585.1, 56-585.2, and 56-585.3 of the Code of Virginia, relating to rates of electric utilities; recovery of certain expenses through rate adjustment clauses.

080024316

S.B. 93 Electric Utility Restructuring Act; repeals certain provisions.

Patron: Reynolds

Electric utility restructuring.  Repeals provisions of the Electric Utility Restructuring Act that established parameters for the rate of return to be earned by certain electric utilities, recovery of certain expenses, and incentives for constructing new generation facilities and meeting voluntary renewable energy targets. The measure reinstitutes traditional cost-of-service ratemaking principles for such utilities, effective January 1, 2009.

A BILL to amend and reenact §§ 56-231.24, 56-233.1, 56-234.2, 56-235.2, 56-235.6, 56-249.6, 56-576, and 56-580 of the Code of Virginia and to repeal §§ 56-577, 56-578, 56-579, 56-581 through 56-586, 56-587 through 56-593, and 56-596 of the Code of Virginia, relating to the Virginia Electric Utility Restructuring Act.

087860316

S.B. 145 Natural gas utilities; recovery of capital costs.

Patron: Stosch

Natural gas utilities; recovery of capital costs.  Establishes a mechanism for a natural gas utility to recover its reasonably incurred capital costs of acquiring, constructing, or enlarging certain natural gas facilities placed into service in the Commonwealth on or after July 1, 2008. These capital costs, which include an allowance for funds used during construction, shall be included in the utility's rate base for its next general rate case or performance-based regulation plan.

A BILL to amend the Code of Virginia by adding a section numbered 56-235.9, relating to recovery of funds used during construction of natural gas facilities.

084619332

S.B. 156 Payday Loan Act; repealing Act referring thereto.

Patron: McEachin

Payday Loan Act.  Repeals the Payday Loan Act effective July 1, 2010.

A BILL to amend and reenact §§ 6.1-249, 6.1-330.55, 6.1-439, and 59.1-200 of the Code of Virginia and to repeal Chapter 18 (§§ 6.1-444 through 6.1-471) of Title 6.1 of the Code of Virginia, relating to the Payday Loan Act.

087845273

S.B. 161 Workers' compensation; alternative dispute resolution systems.

Patron: McEachin

Workers' compensation; alternative dispute resolution.  Authorizes an employer primarily engaged in the construction business and a collective bargaining representative of its employees, with which the employer has a signatory agreement, to negotiate a dispute resolution system, which may include mediation and binding arbitration.  The system would be an alternative to dispute resolution procedures in the Workers' Compensation Act.  Such agreements may also address the use of an agreed list of health care providers for treatment and examinations, light duty and return-to-work programs, and vocational rehabilitation or retraining. Settlements must be approved by the Workers' Compensation Commission.  Arbitration decisions may be reviewed in the same manner as decisions of deputy commissioners.

A BILL to amend the Code of Virginia by adding in Chapter 1 of Title 65.2 a section numbered 65.2-105, relating to workers' compensation; alternative dispute resolution systems agreed to in certain collective bargaining agreements.

088670273

S.B. 238 Payday lending charges; establishes maximum annual interest rate.

Patron: Locke

Payday lending charges.  Establishes a maximum interest rate for payday loans of 36 percent annually. 

A BILL to amend and reenact §§ 6.1-459, 6.1-460, and 6.1-461 of the Code of Virginia, relating to payday loan charges.

088675256

S.B. 278 Payday Loan Act; repealing Act referring thereto.

Patron: Locke

Payday Loan Act.  Repeals the Payday Loan Act effective January 1, 2009.

A BILL to amend and reenact §§ 6.1-249, 6.1-330.55, 6.1-439, and 59.1-200 of the Code of Virginia and to repeal Chapter 18 (§§ 6.1-444 through 6.1-471) of Title 6.1 of the Code of Virginia, relating to the Payday Loan Act.

087891256

S.B. 279 Payday lending charges; establishes maximum annual interest rate.

Patron: Miller, J.C.

Payday lending charges.  Establishes a maximum annual interest rate for payday loans of 36%.

A BILL to amend and reenact § 6.1-460 of the Code of Virginia, relating to payday loan charges.

080712275

S.B. 311 Electric utilities; resource planning.

Patron: Reynolds

Electric utility planning.  Requires investor-owned electric utilities and electric cooperatives to submit, by January 1, 2009, a procurement plan that sets forth how it intends to meet its obligation to provide electric generation supply for its customers over the next 20 years. The procurement plan shall integrate, over the term of the plan, the electric utility's forecast of demand with actions to meet the forecasted demand, and identify a portfolio of electric generation supply resources that is likely to provide the electric generation supply needed to meet the forecasted demand at the lowest total price with reasonable price stability so as to assure just and reasonable prices. Updated procurement plans will be filed every two years thereafter. State Corporation Commission approval of a procurement plan is required. The measure also restricts requirements that residential customers use advanced metering technologies.

A BILL to amend the Code of Virginia by adding in Title 56 a chapter numbered 24, consisting of sections numbered 56-597 through 56-602, relating to resource planning by electric utilities.

080107316

S.B. 320 Solar energy collection devices; covenants restricting.

Patron: Wagner

Covenants restricting solar energy collection devices.  Declares that any restrictive covenant that restricts the installation or use of any solar energy collection device on real property in the Commonwealth void and contrary to the public policy of the Commonwealth.

A BILL to amend and reenact §§ 67-700 and 67-701 of the Code of Virginia, relating to covenants restricting solar energy collection devices.

080094340

S.B. 322 Electric Utility Restructuring Act; defines municipal solid waste as source of renewable energy.

Patron: Wagner

Renewable energy source.  Defines municipal solid waste as source of renewable energy under the Virginia Electric Utility Restructuring Act.

A BILL to amend and reenact § 56-576 of the Code of Virginia, relating to defining municipal solid waste as a renewable energy source.

088390340

S.B. 419 Cable television services; provision by localities in certain planning districts.

Patron: Puckett

Cable television services.  Provides that a municipality currently authorized to provide cable television services may offer such services within the geographic boundaries of Planning Districts 2 and 3. The bill further provides that any locality in either Planning District 2 or 3 may contract with, or issue a franchise to, any public or private provider of cable television services to provide the citizens of such locality with such cable television services.

A BILL to amend and reenact § 15.2-2108.11 of the Code of Virginia and to amend the Code of Virginia by adding in Chapter 21 of Title 15.2 an article numbered 1.3, consisting of a section numbered 15.2-2108.33, relating to the provision of cable services.

081151300

S.B. 446 Clean energy future; electric energy sold to be generated from renewable generation energy sources.

Patron: Petersen

Clean energy future.  Requires that by the year commencing July 1, 2020, and in subsequent years, 20% of the electric energy sold by each supplier to retail customers in the Commonwealth be generated from renewable generation energy sources, and that each supplier achieve reductions in the consumption of electric energy by its retail customers, through the supplier's implementation of energy efficiency programs, in an amount equal to 10% of the amount of electric energy consumed by its retail customers in 2007. The requirements are phased in over a period commencing July 1, 2008. The 20% requirement for renewable generation energy sources is comprised of three categories of renewable energy sources, each of which has separate percentage requirements. Generators of renewable energy receive renewable energy credits for power generated through eligible renewable sources or conserved through energy efficiency programs. Suppliers who do not comply with the minimum percentage requirements are required to make alternative compliance payments into a new Virginia Sustainable Energy Fund. Distributors are authorized to recover incremental costs of compliance under the procedure for recovery of the costs of purchased power. Electric cooperatives and municipal electric utilities are exempted from the measure. Generators of eligible renewable energy using certain components manufactured within the Commonwealth receive double the amount of renewable energy credits. The Secretary of Commerce and Trade is directed to develop incentives for renewable energy manufacturing in the coalfield region of Virginia. The measure also (i) creates a Clean Energy Fund and (ii) establishes a commercial in-state production tax credit of 0.06 cents per kWh for solar photovoltaic energy and 0.03 cents per kWh for wind energy.  Finally, Secretary of Commerce and Trade is directed to develop a Green Jobs program that will provide training for workers in new industries relating to the field of alternative energies, including the manufacture and operation of products used to generate electricity and other forms of energy from alternative sources.

A BILL to amend and reenact §§ 56-249.6, 56-585.1, and 56-585.3 of the Code of Virginia; by adding in Title 56 a chapter numbered 24, consisting of sections numbered 56-597 through 56-607, by adding a section numbered 58.1-439.10:1, and by adding in Title 67 a chapter numbered 11, consisting of sections numbered 67-1100 and 67-1101; and to repeal § 56-585.2 of the Code of Virginia, relating to the establishment of mandatory state renewable energy and energy efficiency standards, a renewable energy worker training program; a Clean Energy Fund, and a production tax credit for wind and solar power, all relating to a clean energy future for the Commonwealth.

080110293

S.B. 541 Electrical transmission lines; State Corporation Commission review.

Patron: Obenshain

Electrical transmission lines; State Corporation Commission review.  Requires the State Corporation Commission, when verifying the applicant's load flow modeling, contingency analyses, and reliability needs presented to justify a new electrical transmission line, to assume (i) participation in the renewable portfolio standard program and achievement of its goals, (ii) the maximum effective conservation of energy used by public utilities, and (iii) full compliance with the energy consumption requirements for federal buildings. The measure also requires the applicant to provide the Commission with such information as it requires to make the verification.

A BILL to amend and reenact § 56-46.1 of the Code of Virginia, relating to State Corporation Commission review of electrical transmission line proposals.

084722288

S.B. 565 Motor vehicle equity loans; caps interest thereon.

Patron: Obenshain

Motor vehicle equity loans; penalties.  Regulates motor vehicle equity loans, which are closed-end loans secured by an interest in a motor vehicle. The measure caps the interest on such loans at 20 percent per month for the first two months and three percent per month for the balance of the term. If such a loan is repaid in full within 48 hours, the loan shall not bear interest. The maximum term of such a loan is 12 months. The maximum amount of a motor vehicle equity loan is 50 percent of the value of the motor vehicle. Lenders are required to be licensed with the State Corporation Commission. A violation of the measure is a prohibited practice under the Consumer Protection Act. Violators are subject to civil and criminal penalties. Making unlicensed motor vehicle equity loans, or arranging or brokering motor vehicle equity loans, is punishable as a Class 1 misdemeanor.

A BILL to amend and reenact §§ 6.1-249, 6.1-330.55, 6.1-330.78, and 59.1-200 of the Code of Virginia and to amend the Code of Virginia by adding in Title 6.1 a chapter numbered 21, consisting of sections numbered 6.1-480 through 6.1-507, relating to motor vehicle equity loans; penalties.

084721288

S.B. 583 Unclaimed property; reduces holding period for abandonment for banks & financial organizations.

Patron: Colgan

Uniform Disposition of Unclaimed Property Act; banks and financial organizations.  Reduces the holding period for abandonment for unclaimed property for banks and financial organizations from five years to two years for banks or organizations that deduct a charge or cease to accrue interest because of dormancy or inactivity. The measure also provides that if a holder of the property ceases imposing additional charges or retroactively credits interest on dormant or inactive property for a reason other than to correct a documented internal error, the holder is deemed to have waived its right to impose the charges or cease accruing interest and shall reverse or cancel the charges or retroactively credit interest on accounts reported to the Treasurer. The second provision is stated to be declaratory of existing law.

A BILL to amend and reenact § 55-210.3:01 of the Code of Virginia, relating to the disposition of unclaimed property; bank deposits and funds in financial organizations.

080765818

S.B. 612 Liability, fire, & motor vehicle insurance policies; establishes exceptions to prohibitions.

Patron: Stolle

Nonrenewal of liability, fire, and motor vehicle insurance policies.  Establishes exceptions to prohibitions on the refusal to renew certain liability, fire, and motor vehicle insurance policies.  Such renewal provisions will not apply to an insurer if an affiliated insurer has manifested its willingness to provide coverage at a lower premium than would have been charged for the same exposures on the expiring policy. 

A BILL to amend and reenact §§ 38.2-231, 38.2-2114, and 38.2-2212 of the Code of Virginia, relating to termination and nonrenewal of certain insurance policies.

080569328

S.B. 670 Payday lending charges; establishes a maximum annual interest rate.

Patron: McEachin

Payday lending charges.  Establishes a maximum annual interest rate for payday loans of 36 percent.  References in the Payday Loan Act to the fee that may be charged on such loans are revised to refer to the interest that may be charged.

A BILL to amend and reenact §§ 6.1-459, 6.1-460, and 6.1-461 of the Code of Virginia, relating to payday loan charges.

088798628

S.B. 692 Insurance agents; revises definition of limited burial insurance authorities.

Patron: Edwards

Insurance agents; limited burial insurance authorities.  Revises the definition of a limited burial insurance authority to include the authority to solicit applications for life insurance in amounts of $10,000 or less in connection with the funding of a preneed funeral contract. A limited burial insurance authority would no longer include the authority to solicit members of a group life insurance association for burial association group life insurance certificates.

A BILL to amend and reenact § 38.2-1800 of the Code of Virginia, relating to limited burial insurance authorities.

088811228

S.B. 697 Motor vehicle insurance; payments for repairs.

Patron: Petersen

Motor vehicle insurance; payments for repairs.  Requires that the compensation paid by the insurer for repair parts and service shall not be less than the amounts charged by the repairer to retail customers unless the amounts are not reasonable, and excludes certain items from determinations of the compensation paid by the insurer.  The measure also requires that (i) increases in service compensation be requested in writing and be based on 100 consecutive repair orders or all repair orders over a 90-day period, whichever occurs first, and (ii) increases in compensation for paint and parts be stated as a percentage of markup to be uniformly applied to all parts.

A BILL to amend and reenact § 38.2-517 of the Code of Virginia, relating to insurance settlement practices; automotive refinish reimbursements.

084839293

S.B. 718 Renewable energy; investor-owned electric utilities report annually on efforts to conserve energy.

Patron: Puller

Renewable energy and energy conservation.  Requires investor-owned electric utilities to report annually on their efforts to conserve energy.  The measure also requires the Virginia Energy Plan to be updated by July 1, 2010, and every four years thereafter. Currently, the Energy Plan is required to be updated in July 2012 and every five years thereafter. The measure also requires utilities to report annually on their efforts to meet the renewable portfolio standard goals, renewable generation overall, and relevant advances in renewable energy generation technology.

A BILL to amend and reenact §§ 56-585.2 and 67-202 of the Code of Virginia, relating to renewable energy, energy conservation, and energy efficiency.

080086304

S.B. 719 Railroad corporations; prohibits foreign control without approval of State Corporation Commission.

Patron: Puller

Railroad corporations; foreign control.  Prohibits a foreign person or group of persons from acquiring or attempting to acquire control of any railroad that is a public service corporation, or of any person controlling a railroad that is a public service corporation, without the approval of the State Corporation Commission. The Commission shall approve the application if it determines that, after the change in control, the railroad can reasonably be expected to discharge its public service responsibilities and that the change of control would not be inconsistent with the public interest served by the railroad.

A BILL to amend and reenact §§ 56-1 and 56-345.1 of the Code of Virginia and to amend the Code of Virginia by adding in Article 1 of Chapter 13 of Title 56 a section numbered 56-345.2, relating to railroad corporations.

083828304