text: Richmond Sunlight » 2016 » Interpleader; funds held in escrow. (HB577)
  Interpleader; funds held in escrow. (HB577)
  01/11/2016 Prefiled and ordered printed; offered 01/13/16 16100947D
  01/21/2016 Impact statement from DPB (HB577)
  02/01/2016 Engrossed by House as amended HB577E
  02/01/2016 Printed as engrossed 16100947D-E
  02/01/2016 Impact statement from DPB (HB577E)
  02/24/2016 Committee substitute printed 16105777D-S1
  02/25/2016 Impact statement from DPB (HB577S1)
  02/29/2016 Committee substitute agreed to 16105777D-S1
  02/29/2016 Engrossed by Senate - committee substitute HB577S1
  03/02/2016 Senate substitute agreed to by House 16105777D-S1 (99-Y 0-N)
  03/03/2016 Bill text as passed House and Senate (HB577ER)
  03/03/2016 Impact statement from DPB (HB577ER)
  04/20/2016 House rejected Governor's recommendation (29-Y 70-N 1-A)
  04/20/2016 VOTE: REJECTED (29-Y 70-N 1-A)
  TO ACCEPT THE SENATE SUBSTITUTE. WHICH JUST LEFT THIS BODY HERE THERE ARE NO TIME FRAMES INVOLVED AND FELT LIKE THERE NEEDED TO BE SO THEY ADDED THAT. BEFORE THE MONEY COULD BE TRANSFERRED IT WOULD BE A PERIOD OF A YEAR. SHALL THE SENATE SUBSTITUTE BE AGREED TO? CLERK WILL CLOSE THE ROLL. AYE, 99, NO, 0.
  BILL 577 WAS REQUESTED BY THE VIRGINIA ASSOCIATION OF REALTORS. SESSION WE WORKED WITH THE DURING THE GENERAL ASSEMBLY GOVERNOR'S OFFICE AND THE ATTORNEY GENERAL'S OFFICE TO ADDRESS THE QUESTION OF WHETHER THESE FUNDS WOULD BE REQUIRED BY THE VIRGINIA CONSTITUTION TO GO TO THE LITERARY FUND OR WHETHER THE FUND IS TO BE PAID TO THE HOUSING TRUST FUND. WE BELIEVE THE PROCESS IS COMPLETELY DIFFERENT FROM THE EXISTING PROCESS FOR SHEATHING FUNDS TO THE LITERARY FUND, THEREFORE THERE WOULD BE NO CONSTITUTIONAL THANK YOU. HOUSE BILL 577 PASSED THE HOUSE AND SENATE UNANIMOUSLY AND WE THOUGHT THE CONSTITUTIONAL CONCERNS HAD BEEN ADDRESSED IN THE LANGUAGE SAYING IT'S ADOPTED IN THE SENATE SUBSTITUTE. SINCE THE END OF THE SESSION THE ATTORNEY GENERAL HAS CONCLUDED THAT THE FUNDS ARE REQUIRED TO GO TO LITERARY FUND AND THE LANGUAGE AUTHORIZING A COURT TO PAY THESE ABANDONED EARNEST MONEY DEPOSITS TO THE HOUSING TRUST FUND IS THEREFORE UNCONSTITUTIONAL. IF THE FUNDS ARE REQUIRED TO GO TO THE LITERARY FUND, THERE IS NO NEED FOR THE DETAILED PROCESS OF FILING A COURT ACTION FOR INTERPLEADER SINCE SHEATHMENT DOES NOT REQUIRE FILING OF ANY COURT ACTION. HOUSE BILL 577 WOULD BE IN CONFLICT WITH EXISTING NONJUDICIAL SHEETMENT PROCESS. I WILL ASK FOR A MEETING WITH THE GOVERNOR'S OFFICE AND ATTORNEY GENERAL'S OFFICE TO DISCUSS THIS LEGISLATION OVER THE NEXT 30 DAYS. IF THE ATTORNEY GENERAL'S OFFICE CONTINUES TO EXPRESS CONSTITUTIONAL CONCERNS, I WILL BE ASKING THE GOVERNOR TO VETO HOUSE BILL 577, BUT I WOULD AT LEAST LIKE THE CHANCE TO HAVE THAT DISCUSSION. WITH THIS EXPLANATION, I MAKE THE MOTION TO REJECT THE GOVERNOR'S AMENDMENT.
  Del. Bill Howell (R-Fredericksburg): THE GENTLEMAN FROM FAIRFAX, MR. KEAM.
  Del. Mark Keam (D-Vienna): THANK YOU MR. SPEAKER, I WOULD LIKE TO SPEAK TO THE GOVERNOR'S RECOMMENDATION.
  Del. Mark Keam (D-Vienna): THANK YOU. WELL, I AGREE WITH THE DELEGATE WHO JUST SPOKE AND I CERTAINLY SUPPORTED THE BILL AND I THINK IT'S A GREAT IDEA FOR THE BILL BUT GENERAL FORTY GIVEN THAT WE'VE NOT BEEN ON NOTICE THAT THIS LANGUAGE DOES IN FACT VIOLATE THE PLANNED READING OF SECTION EIGHT, ARTICLE #, SECTION EIGHT OF THE CONSTITUTION I THINK IT WOULD BE WISER TO ACCEPT THE CHANNEL AND THEN HOPEFULLY GIVE A CHANCE FOR THE STAKEHOLDERS TO WORK WITH THE GOVERNOR AND THE ATTORNEY GENERAL. I ASK THE GOVERNOR'S RECOMMENDATIONS BE ACCEPTED.
  [Unknown]: AYES 29, NOS 30. AYES 29, NOS -- SORRY, AYES 29, NOS 70, I APOLOGIZE. AYES 29, NOS 7O. THE RECOMMENDATIONS ARE NOT