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

Bill Has Passed

History

DateAction
01/14/2009Prefiled and ordered printed; offered 01/14/09 098372284
01/14/2009Referred to Committee on Education and Health
01/19/2009Assigned Education sub: Higher Education
01/19/2009Impact statement from DPB (SB1395)
02/05/2009Reported from Finance with substitute (13-Y 0-N)
02/05/2009Reported from Education and Health with substitute (14-Y 1-N) (see vote tally)
02/05/2009Committee substitute printed 093405284-S1
02/05/2009Rereferred to Finance
02/05/2009Reported from Finance (13-Y 0-N) (see vote tally)
02/06/2009Impact statement from DPB (SB1395S1)
02/09/2009Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/10/2009Read second time
02/10/2009Reading of substitute waived
02/10/2009Committee substitute agreed to 093405284-S1
02/10/2009Engrossed by Senate - committee substitute SB1395S1
02/10/2009Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/10/2009Passed Senate (39-Y 0-N) (see vote tally)
02/13/2009Placed on Calendar
02/13/2009Read first time
02/13/2009Referred to Committee on Appropriations
02/16/2009Assigned App. sub: Higher Education (Morgan)
02/23/2009Subcommittee recommends reporting
02/23/2009Reported from Appropriations (24-Y 0-N) (see vote tally)
02/24/2009Read second time
02/25/2009Read third time
02/25/2009Passed House BLOCK VOTE (100-Y 0-N)
02/25/2009VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
03/09/2009Enrolled
03/09/2009Bill text as passed Senate and House (SB1395ER)
03/09/2009Impact statement from DPB (SB1395ER)
03/10/2009Signed by President
03/11/2009Signed by Speaker
03/30/2009G Approved by Governor-Chapter 767 (effective 7/1/09)
03/30/2009G 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.

Duplicate Bills

The following bills are identical to this one: HB1725.