Virginia · 2025 Regular Session · Bill
SB 759: Contracts assigning rights to earned wages; legal rate of interest.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 759 is a bill introduced in the Virginia Senate on December 10, 2024. According to its official title, it concerns: Contracts assigning rights to earned wages; legal rate of interest. Primary sponsor: Mamie Locke (Democratic). Most recent recorded action (January 27, 2025): Stricken at request of Patron in Commerce and Labor (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.
Contracts assigning rights to earned wages; legal rate of interest. Provides that any contract entered into on or after July 1, 2025, 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 earned wages, salary, commissions, or other compensation for services shall be considered a loan and that 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.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Mamie Locke | Primary sponsor | Democratic | Senate | 23 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Stricken at request of Patron in Commerce and Labor (15-Y 0-N)
- Fiscal Impact Statement from State Corporation Commission (SB759)
- Referred to Committee on Commerce and Labor
- Prefiled and ordered printed; Offered 01-08-2025 25101242D