Commonwealth Scholars Program and Investment Fund; established. (HB2296)

Introduced By

Del. David Englin (D-Alexandria)

Progress

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

Description

Commonwealth Scholars Program and Investment Fund; established.  Provides for the establishment of the Commonwealth Scholars Program and Investment Fund whereby public or private organizations and individuals may make monetary contributions to provide scholarships for eligible students in order to expand access to higher education. Scholarship funds may be paid to any accredited, degree-granting public or private nonprofit institution of higher education in Virginia. Eligibility for the scholarships is limited to domiciled residents of Virginia as defined by 23-7.4 and who are admitted and enrolled as full-time students in a public or nonprofit private institution of higher education, and any other criteria established by the Council. Each scholarship recipient will be required to sign a promissory note agreeing to annually pay back into the Fund a percentage of his annual income, not to exceed five percent, beginning five years after the end of the scholarship funded program, and for a period not to exceed 25 years. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2011Committee
01/12/2011Prefiled and ordered printed; offered 01/12/11 11101586D
01/12/2011Referred to Committee on Education
01/18/2011Assigned Education sub: #4 Higher Education and Arts
01/25/2011Subcommittee recommends reporting
01/25/2011Subcommittee recommends referring to Committee on Appropriations
01/31/2011Referred from Education
01/31/2011Referred to Committee on Appropriations
01/31/2011Assigned App. sub: Higher Education
02/01/2011Impact statement from DPB (HB2296)
02/02/2011Subcommittee recommends laying on the table (8-Y 0-N)
02/08/2011Left in Appropriations