Virginia House Bill 2621

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Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-01-28 - Fiscal Impact Statement from State Corporation Commission (HB2621)
Pending: House Labor and Commerce: Subcommittee #3 Committee
Hearing: Jan 28 in House Committee Room A - 008
Text: Latest bill text (Introduced) [HTML]

Phase I Utilities; securitized asset costs. Authorizes Appalachian Power to petition the State Corporation Commission for a financing order for securitized asset costs, as defined in the bill. The bill creates the securitized asset cost charge and provides that the revenues generated by this charge, known as securitized asset cost property, are a property right that can be transferred and pledged as security for the securitized asset cost bonds. The bill establishes the procedures for creating, perfecting, and enforcing the security interest in securitized asset cost property.

Phase I Utilities; securitized asset costs.

Del. Jason Ballard [R]

Del. Terry Kilgore [R]

Del. Israel O'Quinn [R]

Del. James Morefield [R]

Date	Chamber	Action
2025-01-28	House	Fiscal Impact Statement from State Corporation Commission (HB2621)
2025-01-24	House	Assigned L & C sub: Subcommittee #3
2025-01-13	House	Referred to Committee on Labor and Commerce
2025-01-13	House	Presented and ordered printed 25103840D

Type	Source
Summary	https://lis.virginia.gov/bill-details/20251/HB2621
Text	https://lis.virginia.gov/bill-details/20251/HB2621/text/HB2621
Supplement	https://lis.blob.core.windows.net/files/1031053.PDF