HB 1707: Virginia Contractor Transaction Recovery Fund; claim limits; license threshold amounts.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Virginia Contractor Transaction Recovery Fund; claim limits; license threshold amounts. Increases from $20,000 to $30,000 per claim the individual limit of claims against the Virginia Contractor Transaction Recovery Fund based upon an unpaid judgment arising out of the improper or dishonest conduct of a licensed contractor in connection with a single transaction involving contracting and increases from $40,000 to $100,000 during any biennium the aggregate claim limit against a single licensed contractor. The bill also raises the thresholds for the value of single contracts or projects and the total value of all construction, removal, repair, or improvements undertaken by a contractor in a 12-month period that govern each class of contractor's licenses. This bill is identical to SB 1059.

Sponsors

Sponsors by party (alphabetical): Republican 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 19, 2025Acts of Assembly Chapter text (CHAP0127)
2. March 19, 2025Approved by Governor-Chapter 127 (Effective 07/01/25)
3. February 18, 2025Governor's Action Deadline 11:59 p.m., March 24, 2025
4. February 18, 2025Enrolled Bill communicated to Governor on February 18, 2025
5. February 15, 2025Signed by President
6. February 12, 2025Signed by Speaker
7. February 12, 2025Fiscal Impact Statement from Department of Planning and Budget (HB1707)
8. February 12, 2025Bill text as passed House and Senate (HB1707ER)
9. February 12, 2025Enrolled
10. February 10, 2025Passed Senate (39-Y 0-N)
11. February 10, 2025Read third time
12. February 7, 2025Passed by for the day

Showing 12 most recent of 26 actions. Full history