Possession of an item containing residue of a controlled substance; penalty. Creates a Class 1 misdemeanor for the offense of possession of an item containing residue of a controlled substance. The bill provides that upon motion of the attorney for the Commonwealth, a charge for possession of a controlled substance classified in Schedule I or II of the Drug Control Act may be reduced to unlawful possession of an item containing residue of a controlled substance. Currently, possession of any amount of such controlled substance is a Class 5 felony. As introduced, this bill was a recommendation of the Virginia Criminal Justice Conference.