Bill > HB870

This bill directs the Virginia Board of Accountancy (the Board) to create two new license statuses for Certified Public Accountants (CPAs): "Inactive" and "Emeritus." These statuses are for CPAs who are no longer providing services to the public or to an employer. To qualify for these statuses, a CPA must currently be licensed in Virginia and not be under investigation or facing disciplinary action. The bill outlines minimum qualifications for each status: for "CPA, Inactive," the licensee must have held an active CPA license for at least five years; for "CPA, Emeritus," the licensee must have held an active or inactive CPA license for at least 15 years and be at least 60 years old, or have held a license for at least 30 years. The Board will also develop guidelines to help active and inactive licensees accurately reference their CPA licensure in autobiographical and biographical information, ensuring historical accuracy and legal compliance, and will adopt emergency regulations to implement these changes. This bill is identical to SB 605 and incorporates HB 228.