Virginia Retirement System; accidental death and dismemberment benefits, definitions. (HB536)

Introduced By

Del. Betsy Carr (D-Richmond)

Progress

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

Description

Virginia Retirement System; accidental death and dismemberment benefits; definitions. Changes the funding structure for the Virginia Retirement System's obligation to fund a savings trust account for higher education for a qualifying child of a VRS member who dies as a result of an accident caused by a felonious assault committed by other than an immediate family member. The bill requires VRS to contribute to such trust account an amount equal to the current average cost, as published by the State Council of Higher Education for Virginia, of four years of tuition and mandatory fees at baccalaureate public institutions of higher education in the Commonwealth. This requirement replaces VRS's obligation under current law to contribute to such trust account an amount equal to the full cost of a prepaid tuition contract. The bill also narrows use of the trust account to include only qualified higher education expenses to account for changes to § 529 of the Internal Revenue Code. This bill is identical to SB 109. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/05/2020Committee
01/05/2020Prefiled and ordered printed; offered 01/08/20 20101039D
01/05/2020Referred to Committee on Appropriations
01/07/2020Impact statement from VRS (HB536)
01/14/2020Assigned App. sub: Compensation & General Government
01/21/2020Subcommittee recommends reporting (8-Y 0-N)
01/22/2020Reported from Appropriations (22-Y 0-N) (see vote tally)
01/24/2020Read first time
01/27/2020Read second time and engrossed
01/28/2020Read third time and passed House BLOCK VOTE (97-Y 0-N)
01/28/2020VOTE: (97-Y 0-N) (see vote tally)
01/29/2020Constitutional reading dispensed
01/29/2020Referred to Committee on Finance and Appropriations
02/18/2020Reported from Finance and Appropriations (11-Y 0-N) (see vote tally)
02/19/2020Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/20/2020Read third time
02/20/2020Passed Senate (40-Y 0-N) (see vote tally)
02/25/2020Enrolled
02/25/2020Bill text as passed House and Senate (HB536ER)
02/25/2020Impact statement from VRS (HB536ER)
02/25/2020Signed by Speaker
02/26/2020Signed by President
03/03/2020G Governor's Action Deadline 11:59 p.m., April 6, 2020
03/03/2020Enrolled Bill communicated to Governor on March 3, 2020
03/03/2020G Governor's Action Deadline 11:59 p.m., March 10, 2020
03/10/2020G Approved by Governor-Chapter 245 (effective 7/1/20)
03/10/2020G Acts of Assembly Chapter text (CHAP0245)

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