STATE BILLVA HB 293ENGROSSED

Corporations; limited liability decentralized autonomous orgs. (LLDs), delayed effective date.

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 organization with the State Corporation Commission (the Commission), and, if certain requirements are met, the Commission may issue a certificate of organization. The bill includes requirements for amending an LLD's articles of organization 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 provisions of the bill have a delayed effective date of January 1, 2028.

Status: Engrossed; Passed its first chamber
Status date: Feb 12, 2026; 273 days ago
Current chamber: Senate
Session: 2026 Regular Session

VA HB 293 · EngrossedFeb 12

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Bill details

Last action: Passed by indefinitely in Commerce and Labor (15-Y 0-N) · Mar 9, 2026

Sponsor

DHDan HelmerRepresentative · Democrat · HD-010Primary sponsor

Bill history

Newest first.

Mar 9, 2026Passed by indefinitely in Commerce and Labor (15-Y 0-N)Senate

Feb 17, 2026Fiscal Impact Statement from State Corporation Commission (HB293)House

Feb 16, 2026Referred to Committee on Commerce and LaborSenate

Feb 16, 2026Constitutional reading dispensed (on 1st reading)Senate

Feb 13, 2026Read third time and passed House (59-Y 37-N 0-A)House

Feb 12, 2026Engrossed by House - committee substituteHouse

Feb 12, 2026committee substitute agreed toHouse

Feb 12, 2026Read second timeHouse

Show 10 earlier actions

Feb 11, 2026Read first timeHouse

Feb 9, 2026Committee substitute printed 26107218D-H1House

Feb 9, 2026Reported from Communications, Technology and Innovation with substitute (15-Y 7-N)House

Feb 9, 2026House committee offeredHouse

Feb 4, 2026Subcommittee recommends reporting with substitute (7-Y 3-N)House

Feb 4, 2026House subcommittee offeredHouse

Jan 28, 2026Fiscal Impact Statement from State Corporation Commission (HB293)House

Jan 26, 2026Assigned HST sub: Technology and InnovationHouse

Jan 9, 2026Referred to Committee on Communications, Technology and InnovationHouse

Jan 9, 2026Prefiled and ordered printed; Offered 01-14-2026 26104634DHouse

Recorded votes

Reported from Communications, Technology and Innovation with substitute (15-Y 7-N)Feb 9, 2026 · House · 15 yea · 7 nayPassed

Subcommittee recommends reporting with substitute (7-Y 3-N)Feb 4, 2026 · House · 7 yea · 3 nayPassed

Read third time and passed House (59-Y 37-N 0-A)Feb 13, 2026 · House · 59 yea · 37 nayPassed

Passed by indefinitely in Commerce and Labor (15-Y 0-N)Mar 9, 2026 · Senate · 15 yea · 0 nayPassed

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