TITLE: Virginia Commerce and Labor (S02) Committee Docket — 2026-01-26 DATE: 2026-01-26T16:30:00 SESSION: 2026 Regular (20261) CHAMBER: Senate SOURCE_API: https://lis.virginia.gov/Calendar/api/GetDocketsByIdAsync?docketID=20930 COMMITTEE_PAGE: https://lis.virginia.gov/committee-details?committeeId=23&sessionCode=20261 COMMITTEE MEMBERS: - R. Creigh Deeds (D) Chair STAFF: Lehman, Hobie , Bricourt, Kat, Thomas Stevens, Kinzer, Sarah , Ali, Marvi DOCKET / AGENDA: [Senate Bill in Committee] 1. SB161 - Health insurance; limit on cost-sharing payments for prescription drugs under certain plans. Patron(s): Perry Summary: Health insurance; limit on cost-sharing payments for prescription drugs under certain plans. Requires each carrier that offers a health plan in either the individual or small group market to ensure that at least one health plan in each of the bronze, silver, gold, and platinum levels of coverage in each rating area in the individual and small group market conform with the following: (i) a plan that offers a platinum level of coverage shall limit a person's cost-sharing payment for prescription drugs covered under the plan to an amount that does not exceed $150 per 30-day supply of the prescrip 2. SB164 - Health insurance; ethics and fairness in carrier business practices, downcoded claims. Patron(s): McPike Summary: Health insurance; ethics and fairness in carrier business practices; downcoded claims. Prohibits a carrier, intermediary, administrator, or representative of a carrier from downcoding a claim unless the decision to downcode is determined by a person or electronic system that reflects correct coding standards and considers all relevant patient data from the billing provider in making the determination. The bill requires a carrier, intermediary, administrator, or representative that downcodes a claim to provide certain notice to the provider. The bill requires that all downcoding dispute decisio 3. SB166 - Insurance; contingent deferred annuities, nonforfeiture benefits. Patron(s): McPike Summary: Insurance; contingent deferred annuities; nonforfeiture benefits. Permits the State Corporation Commission to adopt reasonable standards for contingent deferred annuities, as defined in the bill, including nonforfeiture benefits. The bill subjects contingent deferred annuities to certain requirements applicable under current law to other types of insurance contracts. 4. SB172 - Health insurance claims; electronic information or attachments accepted, delayed effective date. Patron(s): Pekarsky Summary: Health insurance; carrier business practices; electronic attachments. Provides that, in the following contexts, information may be submitted by a provider to a health insurance carrier through electronic attachment, as defined in the bill: (i) information related to services rendered as required by the carrier in its provider contract; (ii) information related to any defect or impropriety that prevents the carrier from deeming a health insurance claim a clean claim, as defined in existing law; and (iii) information required to establish medical necessity, benefit coverage, or prior authorizati 5. SB208 - Property and casualty insurance; regulation and licensing of all-lines adjusters. Patron(s): DeSteph Summary: Property and casualty insurance; regulation and licensing of all-lines adjusters. Provides for State Corporation Commission licensing and regulation of all-lines adjusters investigating, negotiating, or settling property, casualty, or workers' compensation claims for insurers or for self-insurers. The bill prohibits a person from acting as an all-lines adjuster without first obtaining a license from the Commission and requires all-lines adjusters to comply with standards of conduct and continuing education requirements. The bill also allows the Commission to suspend or revoke licenses under ce 6. SB233 - Fire Programs Fund; distribution of fund. Patron(s): Head Summary: Fire Programs Fund; work group; report. Directs the Department of Fire Programs to establish a work group to evaluate the funding formula for the distribution of aid to localities through the Fire Programs Fund. 7. SB235 - Va. Birth-Related Neurological Injury Compensation Program; electronic filing, review of claims. Patron(s): Head Summary: Virginia Birth-Related Neurological Injury Compensation Program; electronic filing; review of claims. Requires electronic filing of claims under the Virginia Birth-Related Neurological Injury Compensation Program. The bill requires such claims to include an uncondensed and uncompressed fetal heart rate monitoring record and prenatal records and increases from 10 days to 21 days the timeframe in which the Program is required to file a response to a claim. The bill also increases from $3,000 to $6,000 the amount paid to the medical school that assesses and prepares a report for a claim. 8. SB240 - Retail franchise agreements; governing law, competition restrictions. Patron(s): Head Summary: Retail franchise agreements; governing law; competition restrictions. Provides that retail franchise agreements shall be governed by the laws of the Commonwealth and prohibits any person from offering or entering into a franchise agreement that includes competition restrictions that extend beyond termination or expiration of the franchise agreement, except as a term of sale in the event that a franchisee sells a franchise to a third party or back to the franchisor. This bill is identical to HB 69. 9. SB246 - Virginia Nonstock Corporation Act; numerous revisions to Act, delayed effective date. Patron(s): Surovell Summary: Virginia Nonstock Corporation Act. Provides for numerous revisions to the Virginia Nonstock Corporation Act. Among other revisions, the bill (i) authorizes certain actions to derive from its bylaws in addition to its articles of incorporation, (ii) makes changes to the process of amending articles of incorporation and bylaws, (iii) authorizes inclusion of an exclusive forum provision in the bylaws, (iv) permits transfer of membership interests, (v) authorizes members to bring derivative proceedings, (vi) permits a court to remove a director in certain circumstances, (vii) provides for abandonm 10. SB257 - Health insurance; requirements for certain opioid antagonists. Patron(s): Favola Summary: Health insurance; requirements for certain opioid antagonists. Requires each health insurer, corporation providing health care subscription plans, and health maintenance organization whose policy, contract, or plan includes coverage for prescription drugs to include coverage for at least one opioid antagonist used for overdose reversal dispensed pursuant to an oral, written, or standing order of a prescriber and ensure that cost-sharing for at least one opioid antagonist used for overdose reversal is included on the lowest cost tier of the insurer's, corporation's, or health maintenance organi 11. SB271 - Prescription Drug Affordability Board; established. Patron(s): Deeds Summary: Prescription Drug Affordability Advisory Panel established; maximum fair price; annual reports; civil penalties. Directs the Secretary of Health and Human Resources to establish the Prescription Drug Affordability Advisory Panel to conduct data analyses, develop policy recommendations, and identify implementation barriers related to strategies to improve prescription drug affordability, enhance price transparency, and strengthen data collection practices for prescription drugs across public and private payers. The bill requires the Panel to (i) report annually on prescription drug pricing tren 12. SB301 - Exemptions from garnishment; minimum protected account balance, certain benefit payments. Patron(s): VanValkenburg Summary: Exemptions from garnishment; minimum protected account balance; certain benefit payments; procedure for financial institutions. Requires certain financial institutions to automatically exempt from garnishment (i) a minimum protected account balance, defined in the bill as the combined total of not more than $1,000 in a judgment debtor's account or across multiple accounts in the same financial institution, and (ii) a protected amount of certain benefit payments, defined in the bill, that have been deposited into the account via direct deposit or electronic deposit within the two months immedia 13. SB358 - Continuing care providers; quarterly meeting requirements. Patron(s): McDougle Summary: Continuing care providers; quarterly meeting requirements. Amends the quarterly meeting requirements for continuing care facilities to provide that at least two of such meetings per year shall be open to all residents and that certain individuals shall participate in at least two of such meetings per year. The bill also requires, if requested by the resident council or a majority of the independent living residents of a continuing care facility, the provider to include as a participant in the meetings of its board of directors or other governing body a resident representative elected by a majo 14. SB361 - Health insurance; coverage for contraceptive drugs & devices, including over-the-counter. Patron(s): Carroll Foy Summary: Health insurance; coverage for contraceptive drugs and devices. Requires health insurance carriers to provide coverage, under any health insurance contract, policy, or plan that includes coverage for prescription drugs on an outpatient basis, for contraceptive drugs and contraceptive devices approved by the U.S. Food and Drug Administration, including those available over-the-counter. The bill prohibits a health insurance carrier from imposing upon any person receiving prescription contraceptive benefits pursuant to the provisions of the bill any copayment, coinsurance payment, or fee, except 15. SB398 - Virginia Birth-Related Neurological Injury Compensation Program and Fund; filing of claims. Patron(s): Perry Summary: Virginia Birth-Related Neurological Injury Compensation Program and Fund; board of directors; plan of operation; filing of claims; awards and coverage for expenses or services. Makes various changes to the Virginia Birth-Related Neurological Injury Compensation Program and Fund. The bill provides that a civil action arising out of or related to a birth-related neurological injury against a participating hospital or physician shall be referred to the Virginia Workers' Compensation Commission. Under the bill, the costs of the Virginia Workers' Compensation Commission maintaining an electronic fi 16. SB410 - Pharmacy benefits managers; various requirements, report. Patron(s): Peake Summary: Pharmacy benefits managers; various requirements; report. Prohibits a pharmacy benefits manager from (i) reimbursing a pharmacy in an amount less than the national average drug acquisition cost for the prescription drug or pharmacy service at the time the drug is administered or dispensed, plus a professional dispensing fee; (ii) basing pharmacy reimbursement for prescription drugs on patient outcomes, scores, or metrics; (iii) imposing a point-of-sale or retroactive fee on a pharmacy, pharmacist, or covered individual; (iv) receiving deductibles or copayments; (v) redirecting any prescription 17. SB413 - Health insurance; cost-sharing, pharmacy benefits managers, compensation and duties, civil penalty. Patron(s): Peake Summary: Health insurance; ensuring fairness in cost-sharing; pharmacy benefits managers; compensation and duties: civil penalty. Amends provisions related to rebates provided by carriers and health benefit plans to health plan enrollees by defining "defined cost-sharing," "pharmacy benefits management services," and "price protection rebates." The bill requires that an enrollee's defined cost-sharing for each prescription drug be calculated at the point of sale based on a price that is reduced by an amount equal to at least 80 percent of all rebates received or expected to be received in connection wi 18. SB432 - Financial institutions; loans and legal rate of interest. Patron(s): Bagby Summary: Financial institutions; loans and legal rate of interest. Provides that for the purposes of provisions governing usury and the legal rate of interest, "making," when used in reference to a loan, means advancing, offering to advance, or making a commitment to advance funds to a borrower for a loan. The bill provides that the prohibition against a contract for the payment of interest on a loan at a rate that exceeds 12 percent per year applies to any person who seeks to evade its application by any device, subterfuge, or pretense whatsoever, including (i) making loans disguised as personal prope 19. SB476 - Health insurance; prior authorization requests reviewed by physician. Patron(s): DeSteph Summary: Health insurance; prior authorization requests reviewed by physician. Requires a provider contract between a health insurance carrier and a provider to contain provisions requiring (i) any decision to deny a prior authorization request for drug benefits or health care services is made by a licensed physician who is (a) an expert in the treatment of the enrollee's medical condition that is the subject of the prior authorization request and (b) knowledgeable about the recommended health care service or treatment through recent or current actual clinical experience treating patients with the same 20. SB478 - Financial institutions; loans and legal rate of interest. Patron(s): Marsden Summary: Financial institutions; loans and legal rate of interest. Provides that for the purposes of provisions governing usury and the legal rate of interest, "making," when used in reference to a loan, means advancing, offering to advance, or making a commitment to advance funds to a borrower for a loan. The bill provides that the prohibition against a contract for the payment of interest on a loan at a rate that exceeds 12 percent per year applies to any person who seeks to evade its application by any device, subterfuge, or pretense whatsoever, including (i) making loans disguised as personal prope 21. SB479 - Virginia Stock Corporation Act; changes to Act. Patron(s): Marsden Summary: Virginia Stock Corporation Act. Makes various changes to the Virginia Stock Corporation Act, many of which conform the Act to recent changes to the Model Business Corporation Act produced by the Corporate Laws Committee of the American Bar Association's Business Law Section. Among other things, the bill (i) addresses the authority of a board of directors to delegate authority with respect to the issuance of shares to a committee of the board and one or more of the corporation's officers, (ii) removes the requirement for the cessation of shareholder agreements when a corporation becomes a publi 22. SB489 - Financial institutions and services; virtual currency kiosk operators, license required, penalties. Patron(s): Salim Summary: Financial institutions and services; virtual currency kiosk operators; license required; penalties. Establishes requirements for the operation of virtual currency kiosks, as defined in the bill, including a requirement that a virtual currency kiosk operator obtain licensure with the State Corporation Commission. The bill requires operators to file annual and quarterly reports, provide certain disclosures, and take reasonable steps to detect and prevent fraud and money laundering. The bill prohibits operators from accepting transactions above specified daily and monthly limits and establishes a 23. SB500 - Health insurance; prior authorization for health care services. Patron(s): DeSteph Summary: Health insurance; prior authorization for health care services. Decreases from 72 hours to 24 hours and from seven days to five days the time by which a health insurance carrier is required to respond to expedited and standard requests for prior authorization for health care services, respectively. The bill prohibits a carrier from (i) denying a claim for the provision of dental services by a dentist or oral surgeon for failure to obtain prior authorization if the dentist or oral surgeon calls the dental plan during business hours to obtain such prior authorization and is unable to reach the d 24. SB520 - Uninsured Employer's Fund; administrative expenses. Patron(s): Deeds Summary: Uninsured Employer's Fund; administrative expenses. Provides that the costs of administering the Uninsured Employer's Fund, which is administered by the Virginia Workers' Compensation Commission, are paid out of such fund. This bill is identical to HB 572. 25. SB546 - Mortgages; annual notice of potential assumption required, delayed effective date. Patron(s): Sturtevant Summary: Mortgages; annual notice of potential assumption required. Requires a mortgage lender to send an annual notice to the owner of residential real estate that is encumbered by a mortgage that such mortgage may be assumable in connection with certain federally backed loans or conventional loans. The bill has a delayed effective date of January 1, 2027. As introduced, this bill was a recommendation of the Virginia Housing Commission. 26. SB586 - Health carriers; use of artificial intelligence, disclosures. Patron(s): Salim Summary: Health carriers; use of artificial intelligence; disclosures. Requires health carriers to disclose to the State Corporation Commission's Bureau of Insurance how artificial intelligence is used to manage claims coverage and to submit all information enabling decisions made by artificial intelligence to the Bureau upon request. The bill also requires health carriers to provide notice to enrollees and health care providers when artificial intelligence has been used to issue an adverse determination and to provide a clear and timely process for appeal of such determination. 27. SB593 - Health insurance; balance billing protection, emergency medical services vehicle transportation. Patron(s): Perry Summary: Health insurance ; balance billing protection; emergency medical services vehicle transportation. Prohibits an out-of-network health insurance provider from balance billing any enrollee for transportation provided by an emergency medical services vehicle, defined in the bill as any vehicle, vessel, or aircraft that holds a valid permit issued by the Office of Emergency Medical Services and that is equipped, maintained, or operated to provide emergency medical care or transportation of patients who are sick, injured, wounded, or otherwise incapacitated or helpless. 28. SB622 - Title insurance; schedule of risk rates, policy rates. Patron(s): Marsden Summary: Title insurance; schedule of risk rates. Requires each title insurance company to publish its schedule of risk rates, including policies, endorsements, closing protection letter fees, any rate classifications or groupings, and any modifications or amendments. The bill prohibits a title insurance company or a title insurance agency or agent from charging a policy rate for a title insurance policy that exceeds those set forth in the title insurance company's published schedule of policy rates, with certain exceptions. Notwithstanding such prohibition, the bill permits a title insurance company o 29. SB626 - Health insurance; reporting requirements. Patron(s): Obenshain Summary: Health insurance; reporting requirements. Amends various reporting requirements related to health insurance, including by requiring the State Corporation Commission to maintain and publicly post an inventory of mandated benefits and providers, requiring health carriers to report annually on provider terminations and reinstatements, and consolidating reports related to balance billing and arbitration. The bill repeals reporting requirements related to the Comparable Health Care Service Incentive Program and Virginia Health Savings Account Plan. 29. SB626 - Health insurance; reporting requirements. Patron(s): Obenshain Summary: Health insurance; reporting requirements. Amends various reporting requirements related to health insurance, including by requiring the State Corporation Commission to maintain and publicly post an inventory of mandated benefits and providers, requiring health carriers to report annually on provider terminations and reinstatements, and consolidating reports related to balance billing and arbitration. The bill repeals reporting requirements related to the Comparable Health Care Service Incentive Program and Virginia Health Savings Account Plan. This bill is identical to HB 618. 30. SB630 - Health insurance; tobacco surcharge. Patron(s): Carroll Foy Summary: Health insurance; tobacco surcharge. Eliminates the authority of a health carrier to vary its premium rates based on tobacco use. Under current law, a health carrier may charge premium rates up to 1.5 times higher for a tobacco user than for a nonuser. The provisions of the bill apply to health benefit plans providing individual or small group health insurance coverage entered into, amended, extended, or renewed on or after January 1, 2027. This bill is identical to HB 220. 31. SB642 - Health insurance; coverage of medications prescribed for treatment of cancer & diseases of blood. Patron(s): Pillion Summary: Health insurance; treatment of cancer and certain diseases; coverage of certain medications. Requires an insurer, corporation providing preferred provider subscription contracts, or health maintenance organization that provides coverage for drugs approved by the Food and Drug Administration and prescribed for the treatment of cancer or diseases of the blood to allow, at the patient's direction, (i) provider-administered drugs for such treatment to be dispensed by an in-network treating provider consistent with a provider agreement; (ii) provider-administered drugs for such treatment to be disp 32. SB652 - SCC's Bureau of Insurance; customer satisfaction info. from property & casualty insurance providers. Patron(s): Srinivasan Summary: Bureau of Insurance; report on data collected from property and casualty insurance providers; report. Requires that, as part of its existing requirements to submit annual findings and reports on companies issuing property and casualty insurance policies in the Commonwealth, the State Corporation Commission's Bureau of Insurance shall submit an additional annual report summarizing relevant information from property and casualty insurance customer satisfaction surveys. 33. SB669 - Pharmacy benefits managers; requirements, application of law, report, delayed effective date. Patron(s): Rouse Summary: Pharmacy benefits managers; requirements; scope; report. Requires all health insurance carriers to use the pass-through pricing model and may limit a pharmacy benefits manager from deriving income from pharmacy benefits management services provided to a carrier except for income derived from a pharmacy benefits management fee. The bill prohibits a pharmacy benefits manager from (i) reversing and or resubmitting the claim of a pharmacist or pharmacy without meeting certain requirements, (ii) reducing any payment to a pharmacist or pharmacy to an effective rate of reimbursement, or (iii) retroac 34. SB693 - Motor vehicle insurance; unfair discrimination based on individual's consumer credit info., report. Patron(s): Jordan Summary: Motor vehicle insurance; use of certain factors to establish rates prohibited. Prohibits an insurer from refusing to insure, refusing to continue to insure, or limiting the amount or extent of motor vehicle insurance coverage, or charge an individual a different rate for the same motor vehicle insurance coverage, solely because of such individual's consumer credit information or credit-based insurance score. The bill also directs the State Corporation Commission's Bureau of Insurance to study the use by insurers of an insured's or applicant's consumer credit information or credit-based insuran 35. SB734 - Financial institutions; officers and directors. Patron(s): Hackworth Summary: Financial institutions; officers and directors. Provides that the State Corporation Commission may permit, upon petition, an individual to serve as an officer or on the boards of directors of more than one financial institution if the Commission finds that the financial institutions are not in competition with each other or that one or both of the institutions might otherwise be denied capable management or direction from an individual residing in or employed in the locality served by an institution. 35. SB734 - Financial institutions; officers and directors. Patron(s): Hackworth Summary: Financial institutions; officers and directors. Provides that the State Corporation Commission may permit, upon petition, an individual to serve as an officer or on the boards of directors of more than one financial institution if the Commission finds that the financial institutions are not in competition with each other or that one or both of the institutions might otherwise be denied capable management or direction from an individual residing in or employed in the locality served by an institution. 36. SB745 - Health insurance; definitions, prohibited restrictions on in-network referrals. Patron(s): Srinivasan Summary: Health insurance; prohibited restrictions on in-network referrals. Prohibits a health insurance carrier from prohibiting an in-network provider, as defined in the bill, from referring any enrollee or specimen to any in-network clinical laboratory or in-network pathology service provider under the terms of such insurance unless such referral would constitute a violation of certain laws. This bill is identical to HB 424.