© 2024
Virginia's Public Radio
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Lawmakers Hold Stock in Companies that Lobby the General Assembly

Many of Virginia’s lawmakers own significant stock in some of the companies that do business with the state including Dominion Power and Altria. 

In December, members of Virginia’s part-time legislature had to disclose any stock holdings worth more than $5,000. Many are in companies like Apple, IBM, and Microsoft.

But 10 lawmakers own stock in Dominion Power - three of whom have holdings worth more than a quarter of a million dollars…..Bill DeSteph and Barry Knight, Republicans from Virginia Beach. And ManoliLoupassi, a Republican from Richmond.  

Delegate Delores McQuinn, a Democrat from Henrico, invests more than $250,000 in Altria, a corporation headquartered in her district -- and the parent-company of Philip Morris.

Virginia doesn’t prohibit lawmakers from investing in companies that do business with the state, but they can opt to abstain on a vote when they have a quote- “personal interest.”  

That information was made accessible by the Virginia Public Access Project, a nonprofit that tracks money in state politics.

Mallory Noe-Payne is a Radio IQ reporter based in Richmond.