Virginia · 2026 Regular Session · Bill
SB 700: Large-Scale Electricity Consumer Infrastructure Impact Fund; created.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 700 is a bill introduced in the Virginia Senate on January 14, 2026. According to its official title, it concerns: Large-Scale Electricity Consumer Infrastructure Impact Fund; created. Primary sponsor: Kannan Srinivasan (Democratic). Most recent recorded action (February 12, 2026): Continued to next session in Finance and Appropriations (15-Y 0-N).
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.
Large-Scale Electricity Consumer Infrastructure Impact Fund. Establishes the Large-Scale Electricity Consumer Infrastructure Impact Fund (the Fund) for the purposes of offsetting infrastructure replacement and enhancement costs incurred by utilities that are directly attributable to the electricity demand of large-scale electricity consumers and providing bill credits to residential customers to offset rate increases due to the electricity demand of large-scale electricity consumers. The bill requires each large-scale electricity consumer operating in the Commonwealth to remit an annual infrastructure impact fee in an amount determined and assessed by the State Corporation Commission (the Commission) based on energy usage and demand in megawatts and square footage of the large-scale electricity consumer. Additionally, the bill requires each locality that gives final approval for the construction or operation of a large-scale electricity consumer on or after January 1, 2028, to remit an annual infrastructure impact fee to the Commission in an amount equal to five percent of the total annual tax revenue received by the locality that is directly or indirectly attributable to the construction or operation of each such large-scale electricity consumer. All fees collected from such assessments shall be deposited into the Fund.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Kannan Srinivasan | Primary sponsor | Democratic | Senate | 32 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Continued to next session in Finance and Appropriations (15-Y 0-N)
- Fiscal Impact Statement from State Corporation Commission (SB700)
- Referred to Committee on Finance and Appropriations
- Prefiled and ordered printed; Offered 01-14-2026 26105341D