Last week, Gov. Terry McAuliffe signed Senate Bill 692, approving changes to the state’s ethics laws yet again.

Among the changes, lobbyists will only have to file one disclosure report each year, down from two, on July 1 for the preceding 12-month period. The bill also creates an exception in the definition of gifts for any item with a value of less than $20 and limits the definition of a procurement transaction, in terms of lobbying executive action, to contracts costing $5 million or more.

While most of the bill is effective January 1, 2017, an emergency clause applies to the definition change of procurement transaction, rendering it effective upon passage, and lobbyists will not be required to report until July 1, 2017.