Virginia · 2026 Regular Session · Bill
HB 1505: Financial services; right of buyer to refinance certain payments, exemption.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 1505 is a bill introduced in the Virginia House on January 23, 2026. According to its official title, it concerns: Financial services; right of buyer to refinance certain payments, exemption. Primary sponsor: Rip Sullivan (Democratic). Most recent recorded action (February 18, 2026): Left in Labor and Commerce.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Financial services; right of buyer to refinance certain payments; exemption. Provides that provisions authorizing a buyer of consumer goods to refinance an installment payment when such payment is greater than 10 percent more than the regular installment payments do not apply to the purchase of a motor vehicle, provided that the financing agreement includes a payment schedule that is disclosed to the buyer and no installment payment is more than 50 percent greater than the regular installment payments.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Rip Sullivan | Primary sponsor | Democratic | House | 6 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Labor and Commerce
- Subcommittee recommends striking from the docket (9-Y 0-N)
- Fiscal Impact Statement from State Corporation Commission (HB1505)
- Assigned HCL sub: Subcommittee #1
- Referred to Committee on Labor and Commerce
- Presented and ordered printed 26103567D