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HB 870

Accountancy, Board of; licensing requirements, inactive and emeritus status.

2026 Regular Session Introduced by Joe McNamara

Virginia bill creates inactive and emeritus licensing statuses for CPAs to reduce ongoing renewal requirements and fees for semi-retired or non-practicing accountants.

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Bill Summary · HB 870

Legislative bill overview

HB 870 modifies Virginia's accountancy licensing requirements by creating pathways for inactive and emeritus status designations for certified public accountants (CPAs). The bill, which incorporates provisions from HB 228, establishes procedures for licensed accountants to transition to these alternative statuses rather than maintaining active licenses, likely with reduced or waived continuing education and renewal fee requirements.

Why is this important

This legislation affects thousands of Virginia CPAs who are semi-retired, transitioning out of practice, or no longer actively working in the field. It reduces regulatory and financial burdens for these professionals while potentially lowering administrative costs for the Board of Accountancy, though it may also impact the board's revenue from licensing fees.

Potential points of contention

  • Revenue impact: Reduced licensing fees from inactive/emeritus accountants could strain the Board of Accountancy's budget, potentially shifting costs to active practitioners through higher fees
  • Professional standards maintenance: Creating lower-compliance pathways may raise concerns about whether inactive licensees retain sufficient competency to resume active practice without additional requirements
  • Definition clarity: The bill's specific criteria for qualifying for inactive versus emeritus status and any restrictions on using these designations professionally will be crucial to implementation and fairness

Compiled from official sources — confirm details with the bill’s official record.

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