Virginia House Bill HB490

Virginia 2022 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Public utility ratemaking; contracting with small, women-owned, or minority-owned businesses.

Impact

If enacted, HB490 would result in tangible changes to state laws regarding public utilities by repealing existing code provisions that may inhibit the engagement of small and minority-owned enterprises in government contracting. This adjustment is intended to foster a diverse economic landscape within Virginia's public utilities. Increasing participation from diverse business backgrounds in utility ratemaking could lead to more competitive procurement processes and potentially better service offerings for consumers.

Summary

House Bill 490 addresses the practices concerning public utility ratemaking and establishes provisions for contracting with small, women-owned, and minority-owned businesses. This legislation aims to create a more equitable environment by recognizing the significance of diverse business participation in state contracting processes, especially within the utility sector. By enhancing opportunities for these businesses, the bill seeks to promote inclusivity and support underrepresented entrepreneurs in the marketplace.

Contention

The discussion around HB490 could highlight potential points of contention, primarily centered on the implications of modifying existing contracting practices. Opponents of the bill might express concerns regarding the feasibility and practicality of implementing such changes within the established public utility frameworks. They may argue that while promoting diversity is important, it should not compromise efficiency or increase costs for utility operations. Proponents would likely counter that these changes can ultimately lead to improved community relationships and business growth, reiterating the value of inclusivity.