Virginia College Savings Plan; prepaid tuition contracts, etc. (SB1315)

Introduced By

Sen. Emmett Hanger (R-Mount Solon)

Progress

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

Description

Virginia College Savings Plan. Makes several changes to the provisions that establish the Virginia College Savings Plan (the Plan), including (i) permitting the Plan to maintain an independent disbursement system for the disbursement of prepaid tuition contract benefits and (ii) requiring each prepaid tuition contract entered into on or after July 1, 2019, 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. This bill is identical to HB 1972. Read the Bill »

Status

05/22/2019: Awaiting a Vote in the Finance Committee

History

DateAction
01/07/2019Prefiled and ordered printed with emergency clause; offered 01/09/19 19101757D
01/07/2019Referred to Committee on Finance
01/16/2019Impact statement from DPB (SB1315)
01/22/2019Reported from Finance (16-Y 0-N) (see vote tally)
01/23/2019Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/24/2019Read second time and engrossed
01/25/2019Read third time and passed Senate (39-Y 0-N) (see vote tally)
01/25/2019Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
01/25/2019Passed Senate (40-Y 0-N) (see vote tally)
01/29/2019Placed on Calendar
01/29/2019Read first time
01/29/2019Referred to Committee on Appropriations
02/05/2019Assigned App. sub: Higher Education
02/06/2019House committee, floor amendments and substitutes offered
02/06/2019Reported from Appropriations with substitute (22-Y 0-N) (see vote tally)
02/06/2019Committee substitute printed 19106507D-H1
02/07/2019Impact statement from DPB (SB1315H1)
02/08/2019Read second time
02/11/2019Read third time
02/11/2019Committee substitute agreed to 19106507D-H1
02/11/2019Engrossed by House - committee substitute SB1315H1
02/11/2019Passed House with substitute BLOCK VOTE (99-Y 0-N)
02/11/2019VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/13/2019House substitute agreed to by Senate (39-Y 0-N) (see vote tally)
02/13/2019Title replaced 19106507D-H1
02/13/2019Emergency clause deleted
02/18/2019Enrolled
02/18/2019Bill text as passed Senate and House (SB1315ER)
02/18/2019Impact statement from DPB (SB1315ER)
02/18/2019Signed by Speaker
02/19/2019Signed by President
02/20/2019G Governor's Action Deadline Midnight, March 25, 2019
02/20/2019Enrolled Bill Communicated to Governor on February 20, 2019
02/20/2019G Governor's Action Deadline Midnight, March 26, 2019
03/21/2019G Approved by Governor-Chapter 804 (effective 7/1/19)
03/25/2019G Approved by Governor-Chapter 804 (effective 7/1/19)
03/25/2019G Acts of Assembly Chapter text (CHAP0804)

Duplicate Bills

The following bills are identical to this one: HB1972.

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