SB546Introduced in the Senate
Mortgages; annual notice of potential assumption required, delayed effective date.
Introduced by Glen Sturtevant, District 12
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
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.
Where it stands
Left in Labor and Commerce
March 10, 2026
How did lawmakers vote?
House of Delegates votes
1 recorded vote · each counted separately
Senate votes
3 recorded votes · each counted separately
House of DelegatesStage: Subcommittee recommends laying on the table (6-Y 2-N) · February 24, 2026
6
Yes
2
No
1
Absent or Not Voting
9 delegates recorded in this House of Delegates vote. Colors show vote categories only, not whether a vote was good or bad.
See how each delegate voted
| Delegate | District | Vote |
|---|---|---|
| Richard Sullivan | 6 | Yes |
| Irene Shin | 8 | Yes |
| Laura Jane Cohen | 15 | Yes |
| Michelle Maldonado | 20 | Yes |
| J.J. Singh | 26 | Yes |
| Jason Ballard | 42 | No |
| Israel O'Quinn | 44 | No |
| Terry Kilgore | 45 | Absent |
| Rae Cousins | 79 | Yes |
Bill history
Prefiled and ordered printed; Offered 01-14-2026 26101250D
Referred to Committee on Commerce and Labor
Fiscal Impact Statement from State Corporation Commission (SB546)
Senate committee offered
Reported from Commerce and Labor with amendments (15-Y 0-N)
Rules suspended
Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
Passed by for the day Block Vote (Voice Vote)
Passed by for the day
Read second time
Commerce and Labor Amendments agreed to
Engrossed by Senate (Voice Vote)
Engrossed by Senate as amended
Read third time and passed Senate (38-Y 0-N 0-A)
Placed on Calendar
Read first time
Referred to Committee on Labor and Commerce
Assigned HCL sub: Subcommittee #1
Fiscal Impact Statement from State Corporation Commission (SB546)
Subcommittee recommends laying on the table (6-Y 2-N)
Left in Labor and Commerce
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