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2020 SESSION

House Bills with Senate Amendments

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H.B. 1553. A BILL to amend and reenact § 59.1-200 of the Code of Virginia and to amend the Code of Virginia by adding in Title 6.2 a chapter numbered 20.1, consisting of sections numbered 6.2-2026 through 6.2-2050, relating to debt settlement services providers; civil and criminal penalties. 20105424D

• 02/07/20 House: Printed as engrossed 20105424D-E
• 01/11/20 House: Presented and ordered printed 20105424D

Patrons--Willett, Samirah and Rasoul

Passed the House of Delegates February 10, 2020 (86-Y 12-N)

Passed the Senate with amendments February 26, 2020 (31-Y 9-N)

AMENDMENT(S) PROPOSED BY THE SENATE

COMMERCE AND LABOR

1. Line 306, engrossed, after than

strike

15

insert

20

COMMERCE AND LABOR

2. Line 551, engrossed, after effective.

insert

In addition, upon the effective date of the first enactment of this act, July 1, 2021, the State Corporation Commission shall monitor settlements by all licensees, specifically looking at the number of settlements made pursuant to this act, the fees charged pursuant to § 6.2-2041 of the Code of Virginia, as created by this act, and the principal amount to be paid by the consumer to satisfy the debt, and shall report to the Chairs of the House Committee on Labor and Commerce and the Senate Committee on Commerce and Labor by December 1 of each year 2023, 2024, and 2025.