Civil actions; assignment as business litigation action, requirements, delayed effective date.

Civil actions; assignment as business litigation action; requirements. Allows counsel for any party or the judge of the circuit court initially assigned to certain civil actions to request to have such action assigned by the Chief Justice of the Supreme Court of Virginia to have such civil action assigned as a business litigation action. The bill provides that an action to be eligible to be considered a business litigation action, the action shall (i) have a minimum amount in controversy of $1,000,000, (ii) present special complexity, including specialized issues or acute litigation management needs, and (iii) fall into one or more of several enumerated categories of civil actions. The bill has a delayed effective date of July 1, 2027.