Del. Lee Ware

Corporate income tax returns of affiliated corporations. Provides that, for taxable years 2023 and 2024, certain affiliated corporations may elect to switch to or from consolidated corporate income tax return filing status under certain conditions, including the requirement that the affiliated group filed on the same basis for the preceding 20 years. The option would be available only to a group with at least one affiliate that is a bank exempt from filing a Virginia corporate income tax return. Current law requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet certain specified requirements in order for permission to be granted. This bill is identical to SB 386.

Health carriers; licensed athletic trainers. Requires health insurers and health service plan providers whose policies or contracts cover services that may be legally performed by a licensed athletic trainer to provide equal coverage for such services when rendered by a licensed athletic trainer when such services are performed in an office setting. As introduced, this bill was a recommendation of the Health Insurance Reform Commission. This bill is identical to SB 525.

Small renewable energy projects; impact on natural resources. Requires, as a condition for a permit by rule for a small energy project, that the applicant conduct an analysis of the beneficial and adverse impacts of the proposed project on natural resources. The bill requires that if the Department of Environmental Quality determines that there will be a significant adverse impact on wildlife, historic resources, prime agricultural soils, or forest lands, the applicant must also submit a mitigation plan with a 90-day public comment period. The bill specifies that a disturbance of (i) more than 10 acres of prime agricultural soils, (ii) more than 50 acres of contiguous forest lands, or (iii) forest lands enrolled in a forestry preservation program is deemed to be a significant adverse impact on natural resources. The bill directs the Department to convene an advisory panel to assist in developing regulations to further develop criteria for determining significant adverse impact on natural resources and guidelines for plans to mitigate such adverse impacts. Any application for a small renewable energy project received by the promulgation of new regulations or December 31, 2024, whichever is earlier, would not be subject to the act.

Mortgage brokers; dual compensation. Removes provisions prohibiting a person from acting as a mortgage broker in connection with any real estate sales transaction in which such person has acted as a real estate broker or real estate salesperson and has received or will receive compensation in connection with such transaction. The bill provides that if a mortgage broker negotiates, places, or finds a mortgage loan and acts as a real estate broker or real estate salesperson in connection with the sale of the real estate that secures such loan, the mortgage broker is required to conspicuously provide to the borrower a written disclosure at the time the mortgage broker services are first offered to the borrower. This bill is identical to SB 303.

Standard nonforfeiture provisions for life insurance; minimum nonforfeiture amounts; interest rates. Decreases theminimum nonforfeiture amount interest rate from one percent to 0.15percent.

Charter; Town of Blackstone; elections. Updates election provisions for the Town of Blackstone in Nottoway County to reflect the shift from May to November elections. This bill is identical to SB 92.

Bail for a person accused of a crime that is an act of violence; notice to attorney for the Commonwealth. Requires a magistrate to transmit within 24 hours a copy of the checklist for bail determination form to the attorney for the Commonwealth when a magistrate conducts a bail hearing for a person arrested on a warrant or capias for an act of violence. The bill also provides that transmission of such copy to the attorney for the Commonwealth may be by facsimile or other electronic means. This bill is identical to SB 614.

Commending David and Eunjoo Anderson.

Celebrating the life of the Honorable FloraLonette Davis Crittenden.

Commending The Cadet and The Cadet Foundation.