Take a Look at Your Current Virginia REALTORS® 2021 Legislative Agenda Updated 3/1/21

Association Health Plans

Patron: Senator George Barker – SB 1341 

Passed the Senate 38-1.  House Committee referred to Joint Committee on Health Care for further study.

Virginia law already allows certain business and trade groups to pool together in an Association Health Plan (AHP) to offer their members another choice for affordable, quality health insurance. Because of the self-employed status of our members, thousands of Virginia REALTORS® are prohibited from accessing affordable coverage through AHPs. In the 2021 General Assembly, Virginia REALTORS® is seeking a narrowly tailored law that will specifically allow our association to pursue the AHP option, thus limiting the potential impact on the broader health insurance market.

 

Consumer Awareness – Flood Risk Report

Passed the Senate 39-0 and passed the House 94-5.  Sent to the Governor for his consideration.

Virginia REALTORS® is seeking legislation to create more flood risk awareness by beefing up the Buyer Beware Form to encourage potential buyers to seek information on flood risk from resources available from the Department of Conservation and Recreation and the Department of Professional and Occupational Regulation. This bill also states that if a seller has actual knowledge that the dwelling unit is a repetitive risk loss structure shall disclose such fact to the purchaser. For purposes of this bill, “repetitive risk loss” means that two or more claims of more than $1,000 were paid by the National Flood Insurance Program within any rolling 10-year period, since 1978.

 

Property Owners and Condo Owners Associations (POA/COA)

Approved by the Governor on Feb. 25 and will become law on July 1, 2021. Passed the House 98-0 and passed the Senate 39-0. 

 Virginia REALTORS® worked with stakeholders in the Common Interest Community to introduce legislation that will allow property owner and condo unit owners associations to conduct regular and annual meetings through electronic means. The Attorney General has already opined that these meetings can be held electronically but stakeholders believe it would be prudent to add this to the Virginia Code.

 

Protecting Tenants During the Foreclosure Process

Passed the House 99-0 and passed the Senate 30-9.  Sent to the Governor for his consideration.

 Federal legislation re-enacted the Protecting Tenants at Foreclosure Act (PTFA) in 2018. The PTFA requires that a purchaser at foreclosure allow a tenant to continue to occupy the rental dwelling unit for up to 90 days if the purchaser is buying the house as their home and up to the balance of the term of the existing lease if the purchaser is buying the house for investment.  Virginia REALTORS® is seeking legislation to conform Virginia law to the PTFA.

The Government Relations team will continue to provide more detailed information on the 2021 Virginia REALTORS® Legislative Agenda as the Session progresses. If you have questions or thoughts about the agenda, please contact us at advocacy@virginiarealtors.org.