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HB392

Virginia Petroleum Products Franchise Act; agreements between jobber/distributors and dealers.

Status:
Enacted

Latest Action: April 8, 2024
Governor: Acts of Assembly Chapter text (CHAP0639)

Chief Patron:
Atoosa Reaser (D)

Session:
2024 Regular Session

Summary

As Passed Both Chambers. Virginia Petroleum Products Franchise Act; agreements between jobber/distributors and dealers; market valuation study.

Provides that a term of an initial agreement between a jobber/distributor and a dealer relating to specific marketing premises shall not be less than one year and that the term of all subsequent agreements between the jobber/distributor and the dealer relating to the same marketing premises shall not be for less than three years. The bill provides that rental provisions in any such agreement or franchise shall be based on commercially fair and reasonable standards at a fair market value of the leased marketing premises under an objectively reasonable analysis, uniformly applied to all similarly situated dealers of the same jobber/distributor in the same geographic area. If a dealer believes the terms of the agreement offered do not meet a fair market value, such dealer may hire, at his expense, an independent third-party appraisal company from a list of appraisal companies provided by the jobber/distributor to provide a market valuation study. The bill provides that such study shall (i) be for informational purposes only, (ii) not require either party to disclose confidential business information, and (iii) not bind either party. The provisions of the bill apply to Planning District 8 and to initial franchise agreements and renewals of franchise agreements entered into after July 1, 2024. This bill is identical to SB 248. (Less)

  • Bill History

  • 01/08/2024 - House: Prefiled and ordered printed; offered 01/10/24 24104461D
  • 01/08/2024 - House: Referred to Committee on Labor and Commerce
  • 01/16/2024 - House: Assigned L & C sub: Subcommittee #2
  • 01/18/2024 - House: Impact statement from DPB (HB392)
  • 02/08/2024 - House: House subcommittee amendments and substitutes offered
  • 02/08/2024 - House: Subcommittee recommends reporting with substitute (7-Y 1-N)
  • 02/08/2024 - House: Reported from Labor and Commerce with substitute (15-Y 7-N)
  • 02/08/2024 - House: Committee substitute printed 24107169D-H1
  • 02/11/2024 - House: Read first time
  • 02/12/2024 - House: Read second time
  • 02/12/2024 - House: Committee substitute agreed to 24107169D-H1
  • 02/12/2024 - House: Engrossed by House - committee substitute HB392H1
  • 02/13/2024 - House: Read third time and passed House (56-Y 42-N)
  • 02/13/2024 - House: VOTE: Passage (56-Y 42-N)   Close Floor Vote
  • 02/14/2024 - Senate: Constitutional reading dispensed
  • 02/14/2024 - Senate: Referred to Committee on Commerce and Labor
  • 02/20/2024 - House: Impact statement from DPB (HB392H1)
  • 02/26/2024 - Senate: Reported from Commerce and Labor with amendment (15-Y 0-N)
  • 02/28/2024 - Senate: Constitutional reading dispensed (39-Y 0-N)
  • 02/29/2024 - Senate: Read third time
  • 02/29/2024 - Senate: Reading of amendment waived
  • 02/29/2024 - Senate: Committee amendment agreed to
  • 02/29/2024 - Senate: Engrossed by Senate as amended
  • 02/29/2024 - Senate: Passed Senate with amendment (39-Y 0-N)
  • 03/04/2024 - House: Senate amendment agreed to by House (53-Y 45-N)
  • 03/04/2024 - House: VOTE: Adoption (53-Y 45-N)   Close Floor Vote
  • 03/07/2024 - House: Enrolled
  • 03/07/2024 - House: Bill text as passed House and Senate (HB392ER)
  • 03/07/2024 - House: Signed by Speaker
  • 03/08/2024 - Senate: Signed by President
  • 03/11/2024 - House: Enrolled Bill communicated to Governor on March 11, 2024
  • 03/11/2024 - Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024
  • 03/12/2024 - House: Impact statement from DPB (HB392ER)
  • 04/08/2024 - Governor: Approved by Governor-Chapter 639 (effective 7/1/24)
  • 04/08/2024 - Governor: Acts of Assembly Chapter text (CHAP0639)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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