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2012 SESSION

• | print version

HB 233 Virginia Real Estate Time-Share Act; resale of time-shares, disclosures.

Introduced by: John A. Cosgrove | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Time-Share Act; resale revisions.  Requires any reseller, defined in the bill, of a time-share in Virginia to be registered with the Common Interest Community Board and therefore subject to the regulatory authority of the Board. The bill requires time-share resellers to make written disclosures to purchasers concerning the time-share being resold and requires that a separate buyer's acknowledgment form must be provided to each time-share purchaser disclosing certain information, including whether or not the developer owns a buyback program and making it clear that the purchaser is buying a time-share for personal use, rather than investment purposes or resale potential. Under the bill, a willful violation of the registration, acknowledgment, or disclosure provisions is a Class 1 misdemeanor.

FULL TEXT

• 01/10/12  House: Prefiled and ordered printed; offered 01/11/12 12102185D  pdf | impact statement
• 02/09/12  House: Committee substitute printed 12105236D-H1  pdf | impact statement
• 02/27/12  Senate: Committee substitute printed 12105685D-S1  pdf | impact statement
• 03/08/12  House: Bill text as passed House and Senate (HB233ER)  pdf | impact statement
• 04/18/12  House: Reenrolled bill text (HB233ER2)  pdf
• 04/18/12  Governor: Acts of Assembly Chapter text (CHAP0751)  pdf

AMENDMENTS

• Governor's recommendation

HISTORY

• 01/10/12  House: Prefiled and ordered printed; offered 01/11/12 12102185D
• 01/10/12  House: Referred to Committee on General Laws
• 01/27/12  House: Assigned GL sub: #1 Housing
• 02/08/12  House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N)
• 02/09/12  House: Reported from General Laws with substitute (21-Y 0-N)
• 02/09/12  House: Committee substitute printed 12105236D-H1
• 02/12/12  House: Read first time
• 02/13/12  House: Read second time
• 02/13/12  House: Committee substitute agreed to 12105236D-H1
• 02/13/12  House: Engrossed by House - committee substitute HB233H1
• 02/14/12  House: Read third time and passed House BLOCK VOTE (100-Y 0-N)
• 02/14/12  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/15/12  Senate: Constitutional reading dispensed
• 02/15/12  Senate: Referred to Committee on General Laws and Technology
• 02/27/12  Senate: Reported from General Laws and Technology with substitute (14-Y 0-N)
• 02/27/12  Senate: Committee substitute printed 12105685D-S1
• 02/29/12  Senate: Constitutional reading dispensed (40-Y 0-N)
• 03/01/12  Senate: Read third time
• 03/01/12  Senate: Reading of substitute waived
• 03/01/12  Senate: Committee substitute agreed to 12105685D-S1
• 03/01/12  Senate: Engrossed by Senate - committee substitute HB233S1
• 03/01/12  Senate: Passed Senate with substitute (40-Y 0-N)
• 03/01/12  Senate: Reconsideration of Senate passage agreed to by Senate (39-Y 0-N)
• 03/01/12  Senate: Passed Senate with substitute (39-Y 0-N)
• 03/02/12  House: Placed on Calendar
• 03/05/12  House: Senate substitute agreed to by House 12105685D-S1 (97-Y 0-N)
• 03/05/12  House: VOTE: ADOPTION (97-Y 0-N)
• 03/08/12  House: Enrolled
• 03/08/12  House: Bill text as passed House and Senate (HB233ER)
• 03/08/12  House: Signed by Speaker
• 03/09/12  Senate: Signed by President
• 04/09/12  House: Governor's recommendation received by House
• 04/17/12  House: Placed on Calendar
• 04/18/12  House: House concurred in Governor's recommendation (94-Y 0-N)
• 04/18/12  House: VOTE: ADOPTION (94-Y 0-N)
• 04/18/12  Senate: Senate concurred in Governor's recommendation (39-Y 0-N)
• 04/18/12  Governor: Governor's recommendation adopted
• 04/18/12  House: Reenrolled
• 04/18/12  House: Reenrolled bill text (HB233ER2)
• 04/18/12  House: Signed by Speaker as reenrolled
• 04/18/12  Senate: Signed by President as reenrolled
• 04/18/12  House: Enacted, Chapter 751 (effective 7/1/12)
• 04/18/12  Governor: Acts of Assembly Chapter text (CHAP0751)