Bill > HB1111

This bill increases the maximum amount an appellant can be required to post as a suspension bond or irrevocable letter of credit, which are financial guarantees used to pause the enforcement of a judgment during an appeal, from $25 million to $100 million in civil litigation. Additionally, starting April 1, 2031, and every five years thereafter, this monetary cap will be adjusted to account for changes in the Consumer Price Index for All Urban Consumers (CPI-U), a measure of inflation published by the U.S. Department of Labor, ensuring the value of the cap keeps pace with economic conditions. The bill also mandates that the Department of Planning and Budget will provide updated dollar amounts to the Virginia Code Commission for these adjustments every five years.

Justice

https://lis.virginia.gov/bill-details/20261/HB1111