Microchip and semiconductor manufacturing and supply chain tax credits; Virginia Economic Development Partnership Authority evaluation; report. Creates a series of individual and corporate income tax credits for companies engaged in the microchip and semiconductor manufacturing and supply chain business that between January 1, 2026, and December 31, 2036, (i) invest at least $400 million, (ii) create at least 100 new jobs, (iii) pay an average prevailing wage salary, and (iv) submit a plan for use of and committing $50 million of community investments. The bill creates three refundable tax credits in taxable years 2026 through 2030 in amounts equal to (a) five percent of capital investment expenditures incurred during the year, (b) six percent of child care services expenditures incurred during the year, and (c) 7.5 percent of gross wages paid for each new job created during the year. The bill also requires the Virginia Economic Development Partnership Authority, in collaboration with the Joint Legislative Audit and Review Commission and the Department of Taxation, to evaluate the benefits and impacts of new economic development incentives for companies engaging in the microchip, semiconductor, and related equipment and material supplies sector. A report on such evaluation is due by November 30, 2026.
Property insurance; use of aerial or satellite imagery. Prohibits an insurer from refusing to renew a policy written to insure an owner-occupied dwelling based on information obtained through the use of aerial or satellite imagery unless (i) such imagery has been captured not more than 12 months prior to the nonrenewal notice; (ii) the nonrenewal notice includes date-stamped aerial or satellite images of the insured property identifying the specific conditions that form the basis for nonrenewal and specifies any action that the insured may take to remedy such conditions; (iii) the insurer provides the insured a period of not less than 90 days to cure the identified conditions before the nonrenewal takes effect; and (iv) the insurer establishes a point of contact for the insured to submit documentation and a process to review such documentation. The bill requires the insurer to offer to renew coverage if the insured provides documentation, within the 90-day period, demonstrating that the identified conditions have been cured to the insurer's reasonable satisfaction.
Corporations; limited liability decentralized autonomous organizations (LLDs). Creates the Limited Liability Decentralized Autonomous Organization (LLD) Act, which establishes requirements for an LLD, defined as a distinct legal entity that operates through decentralized governance using blockchain technology and smart contracts that execute decentralized decision-making mechanisms. The bill permits the formation of an LLD by filing articles of formation with the State Corporation Commission (the Commission), and, if certain requirements are met, the Commission may issue a certificate of formation. The bill includes requirements for amending an LLD's articles of formation and also includes requirements for LLD bylaws, operating agreements, underlying smart contracts, and participant interests and management of the LLD. Under the bill, an LLD and its participants have limited liability for debts, obligations, and liabilities of the LLD. The bill also includes provisions related to recordkeeping, transferring interests, withdrawal of participants, and dissolution of the LLD. The bill directs the Commission to adopt emergency regulations to implement certain provisions of the bill. Except for the emergency rulemaking, the provisions of the bill have a delayed effective date of January 1, 2027.
Digital Right to Repair Act; access to diagnostics, tools, service documentation, and firmware; penalties. Requires an original equipment manufacturer (OEM) of digital electronic equipment to make available to owners of such equipment and to independent repair providers, on fair and reasonable terms, documentation, parts, and tools for purposes of diagnosis, maintenance, or repair of such equipment. The bill requires, for digital electronic equipment that contains an electronic security lock or other security-related function, OEMs to make available to the owners of such equipment and to independent repair providers, on fair and reasonable terms, any special documentation, parts, and tools needed to disable such lock or function and to reset it when disabled. A violation of the bill's provisions is a prohibited practice under the Virginia Consumer Protection Act.
Consumer Data Protection Act; data controller responsibilities; precise geolocation data. Provides that, for purposes of the Consumer Data Protection Act, a controller of personal data shall not sell or offer for sale precise geolocation data concerning a consumer.
Regulation of data brokers; civil penalties. Prohibits a person from acquiring personally identifiable information, defined in the bill, through fraudulent means or acquiring and using such information for the purpose of (i) stalking or harassing another person; (ii) committing a fraud, including identity theft, financial fraud, or email fraud; or (iii) engaging in unlawful discrimination, including employment discrimination or housing discrimination. The bill requires a data broker, defined in the bill, to develop, implement, and maintain a comprehensive information security program that includes certain features and technical elements. The bill also requires a data broker operating in the Commonwealth, beginning on December 1, 2027, and annually thereafter, to register with the Secretary of the Commonwealth. The bill provides that a violation of its provisions constitutes a prohibited practice under the Virginia Consumer Protection Act. The bill has a delayed effective date of July 1, 2027.
Income tax subtraction; broadband grant fund awards. Establishes an individual and corporate income tax subtraction for any amount of public grant awards received in the taxable year for the exclusive purpose of planning, constructing, expanding, or improving upon broadband infrastructure and services in the Commonwealth beginning in taxable year 2025.
Consumer Data Protection Act; individual action for damages or penalty; social media platforms. Allows a parent or minor who suffers loss as the result of a violation of Consumer Data Protection Act provisions relating to social media platforms to initiate an action against a controller or processor in violation of such provisions. The bill requires a parent or minor to provide a controller or processor 30 days' written notice and an opportunity for the controller or processor to cure the noticed violation prior to initiating such an action.
Virginia Information Technologies Agency; powers of the CIO; creation of Cyber Civilian Corps. Allows the Virginia Information Technologies Agency (VITA) to select persons to serve as Virginia Cyber Civilian Corp (the Corps) volunteers and Corps advisors and deploy such volunteers to provide rapid response assistance under the direction of VITA upon request of a client affected by a cybersecurity incident, defined in the bill. The bill also establishes an advisory board within VITA to review and make recommendations regarding the creation and administration of the Corps. The bill instructs the Chief Information Officer to consult with the advisory board in decisions related to deployment of the Corps during cybersecurity incidents.
Artificial Intelligence Chatbots Act established; prohibited practices; penalties. Creates the Artificial Intelligence Chatbots Act, which prohibits an operator from making a companion chatbot, as those terms are defined in the bill, available to a user in the Commonwealth unless the companion chatbot is incapable of certain actions specified in the bill. The bill also requires an operator of a companion chatbot to include a disclaimer to users of all ages that a companion chatbot is not a human via a static, persistent disclosure and notify a user via a pop-up that he is not engaging with a human counterpart at specified intervals. The bill makes it unlawful for any operator of a companion chatbot to operate or provide a companion chatbot to a user unless such companion chatbot contains a protocol to take reasonable efforts for detecting and addressing expressions of suicidal ideation or self-harm by a user to the companion chatbot. The bill also includes certain data privacy and transparency requirements. The bill provides that a violation of its provisions constitutes a prohibited practice under the Virginia Consumer Protection Act.
