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2023 SESSION

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Senate Committee on Commerce and Labor

Chair: Richard L. Saslaw

Clerk: Hobie Lehman, Hannah Dockery
Staff: Thomas Stevens, Marvi Ali
Date of Meeting: February 20, 2023
Time and Place: 30 mins after Senate adjourns (Time Change) / Senate Room A
Updated to reflect time change to 30 minutes after session

H.B. 1430

Patron: Ware

Virginia Clean Economy Act; non-bypassable charges; energy-intensive trade-exposed (EITE) industries. Defines EITE industries as companies that are constrained in their ability to pass through carbon costs due to international competition, companies that engage in importation of products that cause emission leakage, and critical infrastructure facilities identified by certain federal agencies. The bill directs the State Corporation Commission to establish an EITE customer exemption pilot program for non-bypassable charges in certain provisions of the Virginia Clean Economy Act related to generation of electricity from renewable and zero-carbon sources and development of offshore wind capacity. The pilot program, to be designated as the EITE Pilot Program, shall commence no later than January 1, 2024, and shall have an initial aggregate customer load not to exceed 2,000 megawatts based on each participating customer's load during the previous calendar year. The bill requires the State Corporation Commission to report to the Governor and to the Chairmen of the House Committee on Commerce and Energy and the Senate Committee on Commerce and Labor on the status of the EITE Pilot Program by March 31, 2025. The provisions of the bill expire on July 1, 2029.

A BILL to direct the State Corporation Commission to develop and implement a pilot program for eligible customer exemptions in energy-intensive trade-exposed industries.

23104346D

H.B. 1770

Patron: Kilgore

Virginia Electric Utility Regulation Act. Provides that, in lieu of the triennial review proceedings required under current law, Dominion Energy Virginia, beginning in 2023, will be subject to biennial reviews of their rates, terms, and conditions for generation, distribution, and transmission services. The bill also prohibits an investor-owned incumbent electric utility from permanently retiring an electric power generation facility from service after July 1, 2023, without first obtaining the approval of the Commission and a finding by the Commission that the retirement determination, after consideration of the impact of the proposed retirement on reliability or security of electric service to customers, is reasonable and prudent. Such prohibition does not apply to early retirement determinations identified by the utility in an integrated resource plan filed with the Commission by July 1, 2023.

 A BILL to amend and reenact §§ 56-585.1, 56-585.1:4, and 56-599 of the Code of Virginia, relating to electric utilities; schedule for rate review proceedings; generation facility retirements subject to approval.

23106225D

H.B. 1784

Patron: Kilgore

Securities; digital token exemption; decentralized autonomous organizations. Provides an exemption from securities registration requirements for issuers or sellers of digital tokens, as defined in the bill, under certain circumstances. The bill directs the State Corporation Commission to develop a form and submission process for an issuer or seller of digital tokens to file a notice of intent with the Commission. The bill also creates a regulatory framework for decentralized autonomous organizations, which are a form of limited liability company, and provides that the entity seeking to become a decentralized autonomous organization must file its articles of organization with the Commission in order to seek a certificate of organization. The bill permits a limited liability company to elect to become a decentralized autonomous organization with management vested in its members or smart contracts and contains requirements for its articles of incorporation and operating agreements. The bill also contains provisions governing the relationships and rights of members of a decentralized autonomous organization and for the dissolution of a decentralized autonomous organization.

A BILL to amend the Code of Virginia by adding a section numbered 13.1-514.3 and by adding in Title 13.1 a chapter numbered 15, containing articles numbered 1 through 5, consisting of sections numbered 13.1-1300 through 13.1-1313, relating to securities; digital token exemption; decentralized autonomous organizations.

23105027D

H.B. 1797

Patron: Freitas

Renewable energy; offshore wind development. Provides that for the life of offshore wind facilities constructed by a Phase II Utility, customers shall be held harmless for any shortfall in energy production below an annual net capacity factor of 42 percent, as measured on a three-year rolling average and as determined by the State Corporation Commission.

A BILL to amend and reenact § 56-585.1:11 of the Code of Virginia, relating to renewable energy; offshore wind development.

23101725D

H.B. 2130

Patron: Wilt

State Corporation Commission; renewable energy portfolio standard requirements; report. Provides that the State Corporation Commission may extend certain renewable energy portfolio standard (RPS) requirement timelines if it finds compliance with such requirements would threaten the reliability or security of electric service to customers. In any proceeding by an investor-owned utility in constructing or acquiring new generation resources, the bill requires the Commission to consider the ratepayer impact of such resources compared with alternatives that are not otherwise RPS-eligible. The bill requires the Commission to submit an annual report with recommendations to improve energy reliability, reduce electricity rates, meet forecasted energy needs, and incorporate available and emerging generation technologies.

A BILL to amend the Code of Virginia by adding a section numbered 56-247.2, relating to State Corporation Commission; renewable energy portfolio standard requirements; report.

23106406D

H.B. 2197

Patron: Byron

Virginia Electric Utility Regulation Act; renewable energy; eligible sources for renewable energy portfolio standard program. Provides that for the purpose of the Virginia Electric Utility Regulation Act, renewable energy includes energy from advanced nuclear technology or hydrogen. The bill classifies electric-generating resources that generate electric energy derived from advanced nuclear technology or hydrogen located in the Commonwealth or physically located within the PJM region as renewable energy portfolio standard program sources.

A BILL to amend and reenact §§ 56-576 and 56-585.5 of the Code of Virginia, relating to Virginia Electric Utility Regulation Act; renewable energy; eligible sources for renewable energy portfolio standard program; advanced nuclear technology and hydrogen.

23105725D

H.B. 2267

Patron: Wilt

Electric utilities; cost recovery; alternative to rate adjustment clause. Provides that in any proceeding regarding petitions for a rate adjustment clause, the State Corporation Commission may, as an alternative to a rate adjustment clause, authorize recovery of any proposed cost through the utility's rates for generation and distribution services, if the Commission, in its discretion, determines that such cost recovery better serves ratepayers while still providing the utility the opportunity to recover its costs and earn a fair rate of return.

A BILL to authorize the State Corporation Commission to authorize recovery of any proposed cost through the utility's rates for generation and distribution services as an alternative to a rate adjustment clause.

23101028D

H.B. 2305

Patron: Webert

Renewable energy portfolio standard sources; competitive procurement. Provides that any construction or acquisition of zero-carbon electricity generating capacity or energy storage resources by a Phase I or Phase II Utility for the purposes of meeting the Commonwealth's renewable energy portfolio standards shall be subject to competitive procurement and solicitation and demonstrate economic development benefits to the Commonwealth, including capital investments and job creation.

A BILL to amend and reenact § 56-585.5 of the Code of Virginia, relating to renewable energy portfolio standard sources; competitive procurement.

23103228D

H.B. 2333

Patron: Marshall

Electric utilities; small modular nuclear reactors; pilot program. Provides that it is the policy of the Commonwealth to promote the development and operation of small modular nuclear reactors at the earliest reasonable time possible, with a goal of having the first small modular nuclear reactor operating by the end of 2032, and requires the State Corporation Commission to establish a small modular nuclear reactor pilot program. Under the program, any entity that holds a license from the U.S. Nuclear Regulatory Commission to construct or operate one or more existing nuclear facilities at the time of the application may apply to the State Corporation Commission for a certificate of public convenience and necessity to complete site permitting and construct and operate one or more small modular nuclear reactors. Under the bill, the pilot program will be limited to three small modular nuclear reactor sites in the Commonwealth. The bill requires the State Corporation Commission to consider certain factors in considering an application for a certificate of public convenience and necessity for a small modular nuclear reactor under the pilot program.

A BILL to amend the Code of Virginia by adding a section numbered 56-585.1:14, relating to electric utilities; small modular nuclear reactors; pilot program.

23105996D

H.B. 2389

Patron: Wiley

Remote location requirements for mortgage lending and brokerage entities. Defines "office" and "remote location," as those terms apply to the licensing of mortgage lenders and mortgage brokers, and permits licensees to allow employees and independent contractors to work from a remote location. The bill allows such an employee or independent contractor to work at a remote location only if certain requirements are met, including the establishment of written policies and procedures for remote work supervision; compliance with security plans and federal and state security requirements; the employment of appropriate risk-based monitoring and oversight processes; agreement of the employee or independent contractor to comply with established processes; the proper maintenance of physical records; access of the licensee's secure systems via a virtual private network with password protection; the installation and maintenance of security updates; and the designation of the principal place of business as the licensee's registered location for the purposes of the Nationwide Mortgage Licensing System and Registry record.

A BILL to amend and reenact §§ 6.2-1600 and 6.2-1607 of the Code of Virginia, relating to remote location requirements for mortgage lending and brokerage entities.

23106058D

H.B. 2482

Patron: Fariss

State Corporation Commission; certain electricity transmission projects. Directs the State Corporation Commission to issue its final order for certificates of public convenience and necessity regarding certain projects no later than 270 days after the filing date by a utility. For such projects filed by a utility prior to January 1, 2023, the bill requires the State Corporation Commission to issue its final order for certificates of public convenience and necessity within 90 days of the bill's effective date.

  A BILL to direct the State Corporation Commission to issue its final order on certain projects within a certain timeframe.

23106100D

H.B. 2486

Patron: Kilgore

Soft drink companies and bottlers; transfer of business; remedies. Prohibits soft drink companies from unreasonably withholding or delaying consent to any transfer of a bottler's business or the transfer of the stock or other interest in the bottler's business when a proposed transferee bottler meets the soft drink company's material and reasonable qualification requirements. The bill also prohibits soft drink companies from withholding consent to, or in any manner retaining a right of prior approval of, the transfer of a bottler's business to a principal owner of the bottler or a family member. Cases or controversies arising under the requirements of the bill have jurisdiction in the circuit court of the city or county where the bottler has its principal place of business, and the court may grant equitable relief as necessary to remedy the effects of conduct prohibited under the bill. A contract or agreement between a soft drink company and a bottler that purports to waive the requirements of the bill shall be considered void and unenforceable to the extent of such waiver.

A BILL to amend the Code of Virginia by adding in Title 59.1 a chapter numbered 56, consisting of sections numbered 59.1-593 through 59.1-597, relating to soft drink companies and bottlers; transfer of business; remedies.

23102796D