(The Center Square) – Democratic Gov. Abigail Spanberger has signed a wide set of bills aimed at lowering costs in health care, housing and energy, though many of the changes will take time before Virginians see a difference in their monthly budget.
The legislation, passed with broad bipartisan support, targets everything from prescription drug pricing to housing supply and electric rates. Much of it, however, focuses on studies, regulatory changes or long-term investments rather than immediate cost cuts.
Several bills take aim at health care costs, including Senate Bill 669, which targets middle men known as pharmacy benefit managers. The law requires regulators to review how drug prices are set, a step lawmakers say could lead to lower costs in the future but does not immediately reduce what patients pay at the counter.
Lawmakers also approved House Bill 220 and SB630, which eliminate certain health insurance surcharges tied to tobacco use, and HB60, which prevents insurers from charging more based on the use of HIV prevention medication.
Housing measures focus on increasing supply and preventing displacement, but their impact will likely take time. HB1227 and SB729 shift more state-backed funding toward affordable housing projects, while SB628 creates a statewide eviction prevention program that must still be implemented.
Another measure, HB655, requires local governments to allow manufactured homes in areas zoned for single-family housing, a change intended to expand lower-cost housing options, though local timelines will determine how quickly that happens.
Energy legislation addresses rising electricity demand and long-term costs, including pressure tied to large users such as data centers. SB505 directs regulators to study how utilities manage fuel costs, which directly affect monthly electric bills, but any changes would come later based on the findings.
Other measures, including HB1191 and SB377, allow large energy users to pay for new power infrastructure, a move designed to prevent those costs from being passed on to residential customers. HB1225 and SB407 also set up future rules for electric vehicle charging infrastructure, with decisions still pending from regulators.
Some of the newly signed laws provide more immediate, targeted savings. HB94 expands vehicle registration fee exemptions for disabled veterans, while HB1180 and SB591 create a free state income tax filing system, though it is not expected to be available until 2028.
Most of the legislation takes effect July 1, with additional studies, rulemaking and program rollouts scheduled over the next one to two years.
