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2024 SESSION

• | print version

HB 648 Contracts assigning rights to inheritance funds; legal rate of interest.

Introduced by: Carrie E. Coyner | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Contracts assigning rights to inheritance funds; legal rate of interest. Provides that any contract entered into on or after July 1, 2024, pursuant to which a person receives a cash advance for assigning to a company or other entity a portion of such person's rights to receive inheritance funds from a will in a pending probate matter shall be considered a loan and any additional funds such person is obligated to pay under the terms of the contract shall be considered interest. The bill provides that such contract shall be subject to the legal rate of interest.

FULL TEXT

• 01/09/24  House: Prefiled and ordered printed; offered 01/10/24 24104601D  pdf | impact statement
• 01/30/24  House: Printed as engrossed 24104601D-E  pdf | impact statement
• 02/28/24  House: Bill text as passed House and Senate (HB648ER)  pdf | impact statement
• 04/08/24  Governor: Acts of Assembly Chapter text (CHAP0728)  pdf

AMENDMENTS

• House subcommittee amendments and substitutes adopted
• House amendments adopted
• Senate amendments
• Senate amendments engrossed

HISTORY

• 01/09/24  House: Prefiled and ordered printed; offered 01/10/24 24104601D
• 01/09/24  House: Referred to Committee on Labor and Commerce
• 01/16/24  House: Assigned L & C sub: Subcommittee #1
• 01/23/24  House: Subcommittee recommends reporting with amendments (7-Y 0-N)
• 01/25/24  House: Reported from Labor and Commerce with amendment(s) (21-Y 0-N)
• 01/29/24  House: Read first time
• 01/30/24  House: Read second time
• 01/30/24  House: Committee amendment agreed to
• 01/30/24  House: Engrossed by House as amended HB648E
• 01/30/24  House: Printed as engrossed 24104601D-E
• 01/31/24  House: Read third time and passed House BLOCK VOTE (100-Y 0-N)
• 01/31/24  House: VOTE: Block Vote Passage (100-Y 0-N)
• 02/01/24  Senate: Constitutional reading dispensed
• 02/01/24  Senate: Referred to Committee for Courts of Justice
• 02/19/24  Senate: Reported from Courts of Justice (12-Y 0-N 2-A)
• 02/20/24  Senate: Constitutional reading dispensed (39-Y 0-N)
• 02/21/24  Senate: Read third time
• 02/21/24  Senate: Reading of amendment waived
• 02/21/24  Senate: Amendment by Senator Surovell agreed to
• 02/21/24  Senate: Engrossed by Senate as amended
• 02/21/24  Senate: Passed Senate with amendment (30-Y 10-N)
• 02/23/24  House: Senate amendment agreed to by House (96-Y 0-N)
• 02/23/24  House: VOTE: Adoption (96-Y 0-N)
• 02/28/24  House: Enrolled
• 02/28/24  House: Bill text as passed House and Senate (HB648ER)
• 02/28/24  House: Signed by Speaker
• 03/02/24  Senate: Signed by President
• 03/11/24  House: Enrolled Bill communicated to Governor on March 11, 2024
• 03/11/24  Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024
• 04/08/24  Governor: Approved by Governor-Chapter 728 (effective 7/1/24)
• 04/08/24  Governor: Acts of Assembly Chapter text (CHAP0728)