Your Volvo Electronic Throttle System (ETS) includes the Electronic Throttle Module (ETM) and Throttle Body, including position sensor and actuator. A fault within the ETS will cause the ETS light to illuminate or turn on. This will not necessarily cause your car to fail the smog check unless the ETS failure also causes the Check Engine Light to turn on, or it triggers any digital trouble code(s); which gets stored in the ECU.
We recommend having a smog check station or an auto parts store, which can retrieve trouble codes from your Volvo V70's engine control unit (ECU), do so and report if there are any stored trouble codes. If no trouble codes exist and the check engine light is not illuminated, and assuming all other emission test requirements are met, the illuminated ETS should not cause a smog check failure.