Visitors, board of; College of William & Mary, VCU, & VPI&SU boards authorized to invest funds, etc. (HB1725)

Introduced By

Del. Tom Rust (R-Herndon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Board of visitors; the College of William and Mary and Virginia Polytechnic Institute and State University. Authorizes the boards of visitors of the College of William and Mary and Virginia Polytechnic Institute and State University to invest and manage endowment funds, endowment income, gifts, and all other nongeneral fund reserves and balances as well as local funds of or held by the College or University. Exempts members of the board of visitors from personal liability for losses suffered by such investment. The bill also exempts the investment and management of endowment funds, endowment income, gifts, and all other nongeneral fund reserves and balances and local funds of or held by the College and University from the Virginia Public Procurement Act. Finally, the bill allows the endowment funds, endowment income, gifts, and all other nongeneral fund reserves and balances and local funds of or held by the College or University to be invested or reinvested in derivatives, options, and financial securities in accordance with the Uniform Management of Institutional Funds Act. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/06/2009Committee
01/06/2009Prefiled and ordered printed; offered 01/14/09 098371708
01/06/2009Referred to Committee on Education
01/16/2009Impact statement from DPB (HB1725)
01/20/2009Assigned Education sub: Higher Education and Arts
01/20/2009Subcommittee recommends reporting with amendment(s)
01/26/2009Reported from Education with substitute (22-Y 0-N) (see vote tally)
01/26/2009Committee substitute printed 093402708-H1
01/27/2009Read first time
01/28/2009Read second time
01/28/2009Committee substitute agreed to 093402708-H1
01/28/2009Engrossed by House - committee substitute HB1725H1
01/29/2009Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/29/2009VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
01/30/2009Constitutional reading dispensed
01/30/2009Referred to Committee on Education and Health
02/02/2009Impact statement from DPB (HB1725H1)
02/12/2009Reported from Education and Health (15-Y 0-N) (see vote tally)
02/12/2009Rereferred to Finance
02/17/2009Reported from Finance (16-Y 0-N) (see vote tally)
02/18/2009Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/19/2009Read third time
02/19/2009Passed Senate (40-Y 0-N) (see vote tally)
02/24/2009Enrolled
02/24/2009Bill text as passed House and Senate (HB1725ER)
02/24/2009Impact statement from DPB (HB1725ER)
02/25/2009Signed by Speaker
02/27/2009Signed by President
03/30/2009G Approved by Governor-Chapter 737 (effective 7/1/09)
03/30/2009G Acts of Assembly Chapter text (CHAP0737)

Duplicate Bills

The following bills are identical to this one: SB1395.