New law raises felony larceny threshold to $1,000
Virginia is joining 35 other states and the District of Columbia with a felony larceny threshold being set at $1,000.
Gov. Ralph Northam signed into law House Bill 995, sponsored by Del. Joe Lindsey, D-Norfolk, which raises the felony larceny threshold from $500 to $1,000.
It was just two years ago that Northam negotiated a compromise that raised the threshold raised from $200, the first time it had been adjusted in over three decades.
Proponents tout that this measure will lead to fewer Virginians with felony convictions on their records.
“While we will continue to hold people accountable for their actions, it’s important that the punishment fit the crime,” Northam said. “This bill will bring Virginia in line with the majority of states in our country, modernizing our law to ensure that one mistake does not define a person’s entire life.”
“The time is past due for Virginia to join other states in setting our felony larceny threshold at a reasonable level,” Lindsey said. “I’m proud to have sponsored this bill and I’m glad to see it signed.”