Bill
Bill > HB1166
summary
Introduced
01/14/2026
01/14/2026
In Committee
02/12/2026
02/12/2026
Crossed Over
02/10/2026
02/10/2026
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Financial institutions; check cashers; expiration of registration. Provides that for check cashers registered with the State Corporation Commission, such registration shall automatically expire if a registrant fails to pay the annual registration fee by July 1 of each year. The bill has a delayed effective date of January 1, 2027.
AI Summary
This bill, effective January 1, 2027, amends existing law regarding check cashers, which are businesses that cash checks for a fee. Specifically, it clarifies that if a check casher, referred to as a "registrant," fails to pay their annual registration fee to the State Corporation Commission (the state agency overseeing financial institutions) by July 1 of each year, their registration will automatically expire by law. This change aims to streamline the registration process and ensure timely payment of fees for those operating as check cashers.
Committee Categories
Business and Industry
Sponsors (8)
Stacey Carroll (D)*,
Kimberly Adams (D),
Kacey Carnegie (D),
Nadarius Clark (D),
Joshua Cole (D),
Nicole Cole (D),
J.R. Henson (D),
Irene Shin (D),
Last Action
Referred to Committee on Commerce and Labor (on 02/12/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB1166 |
| Fiscal Note/Analysis - Fiscal Impact Statement from State Corporation Commission (HB1166) | https://lis.blob.core.windows.net/files/1097203.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB1166/text/HB1166 |
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