Day on the Hill 2020
Lobby DayVLTA Day on the Hill 2020 was held on Tuesday, February 18, 2020.
VLTA Lobby Day connects the Virginia title insurance community with Virginia legislators. Representatives enjoy speaking with constituent resources with whom they can rely for information on proposed legislation. VLTA will coordinate 10-15 minute appointments with Senators and Delegates to discuss relevant issues. VLTA will equip you with talking points before you embark on your appointments. Members of all backgrounds and experience levels are encouraged to participate.
Below are some legislative items of note that VLTA will be supporting and will be discussed with Members of the General Assembly:
HB 819 Real estate settlements; kickbacks and other payments, remedies, penalties. Delegate Marcus Simon
- Relocates within Title 55.1 the existing provision that prohibits persons from paying or receiving a kickback, rebate, commission, thing of value, or other payment pursuant to an agreement to refer business incident to a settlement from Chapter 9 (Real Estate Settlements) to Chapter 10 (Real Estate Settlement Agents).
- This relocation authorizes the State Corporation Commission to impose penalties, issue injunctions, and require restitution in cases where a person who does not hold a license from the appropriate licensing authority has violated the provision.
- The measure also adds to Chapter 10 of Title 55.1 provisions that (i) authorize a court to assess civil penalties of not more than $5,000 per violation of the chapter and (ii) authorize the recovery of costs and reasonable expenses and attorney fees.
HB 1726 Hampton Roads Regional Transit Program and Fund; transit funding. Delegate Alex Askew
VLTA is supporting amendments to Senator Lucas' and Delegate Askew's bills to lower the amount by which the Grantor's Tax is increased within the Hampton Roads Region.
- Creates the Hampton Roads Transportation District Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities.
- The program would be funded by an additional (i) regional grantor's tax at a rate of $0.15 per $100 of the consideration for the conveyance, and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy.
- Imposed in localities in the Hampton Roads Transportation District. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill.