Virginia College Savings Plan; members of governing board to disclose personal interests, etc. (SB656)

Introduced By

Sen. Emmett Hanger (R-Mount Solon)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Virginia College Savings Plan. Makes several changes to the provisions that establish the Virginia College Savings Plan (the Plan), including (i) clarifying that members of the Plan's governing board (the board) are required to disclose personal interests pursuant to the State and Local Government Conflict of Interests Act, (ii) permitting the Plan to maintain an independent disbursement system for the disbursement of prepaid tuition contract benefits, and (iii) requiring each prepaid tuition contract entered into on or after July 1, 2018, to include provisions for the application of tuition prepayments, at a rate equal to the percentage of enrollment-weighted average tuition at public institutions of higher education to be determined by the board, at (a) public institutions of higher education, (b) accredited nonprofit independent or private institutions of higher education, and (c) non-Virginia public and accredited nonprofit independent or private institutions of higher education, provided that no such payment is less than the sum of tuition prepayments made, less any fees as determined by the board. Read the Bill »


Bill Has Failed


01/10/2018Prefiled and ordered printed; offered 01/10/18 18102996D
01/10/2018Referred to Committee on Education and Health
01/17/2018Assigned Education sub: Higher Education
01/17/2018Impact statement from DPB (SB656)
01/25/2018Reported from Education and Health (15-Y 0-N) (see vote tally)
01/25/2018Rereferred to Finance
02/07/2018Reported from Finance (14-Y 0-N 1-A) (see vote tally)
02/08/2018Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/09/2018Read second time and engrossed
02/12/2018Passed by temporarily
02/12/2018Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/15/2018Placed on Calendar
02/15/2018Read first time
02/15/2018Referred to Committee on Appropriations
02/22/2018Assigned App. sub: Higher Education
02/26/2018Subcommittee recommends continuing to 2019
03/06/2018Left in Appropriations