Visitors, board of; William & Mary, VCU, & VPI&SU boards authorized to invest & manage funds. (SB1395)
Introduced By
Sen. Tommy Norment (R-Williamsburg)
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
History
| Date | Action |
|---|---|
| 01/14/2009 | Prefiled and ordered printed; offered 01/14/09 098372284 |
| 01/14/2009 | Referred to Committee on Education and Health |
| 01/19/2009 | Assigned Education sub: Higher Education |
| 01/19/2009 | Impact statement from DPB (SB1395) |
| 02/05/2009 | Reported from Finance with substitute (13-Y 0-N) |
| 02/05/2009 | Reported from Education and Health with substitute (14-Y 1-N) (see vote tally) |
| 02/05/2009 | Committee substitute printed 093405284-S1 |
| 02/05/2009 | Rereferred to Finance |
| 02/05/2009 | Reported from Finance (13-Y 0-N) (see vote tally) |
| 02/06/2009 | Impact statement from DPB (SB1395S1) |
| 02/09/2009 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 02/10/2009 | Read second time |
| 02/10/2009 | Reading of substitute waived |
| 02/10/2009 | Committee substitute agreed to 093405284-S1 |
| 02/10/2009 | Engrossed by Senate - committee substitute SB1395S1 |
| 02/10/2009 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 02/10/2009 | Passed Senate (39-Y 0-N) (see vote tally) |
| 02/13/2009 | Placed on Calendar |
| 02/13/2009 | Read first time |
| 02/13/2009 | Referred to Committee on Appropriations |
| 02/16/2009 | Assigned App. sub: Higher Education (Morgan) |
| 02/23/2009 | Subcommittee recommends reporting |
| 02/23/2009 | Reported from Appropriations (24-Y 0-N) (see vote tally) |
| 02/24/2009 | Read second time |
| 02/25/2009 | Read third time |
| 02/25/2009 | Passed House BLOCK VOTE (100-Y 0-N) |
| 02/25/2009 | VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally) |
| 03/09/2009 | Enrolled |
| 03/09/2009 | Bill text as passed Senate and House (SB1395ER) |
| 03/09/2009 | Impact statement from DPB (SB1395ER) |
| 03/10/2009 | Signed by President |
| 03/11/2009 | Signed by Speaker |
| 03/30/2009 | G Approved by Governor-Chapter 767 (effective 7/1/09) |
| 03/30/2009 | G Acts of Assembly Chapter text (CHAP0767) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 2 minutes.