Higher educational institutions; qualified education loans, providers of private education loans. (HB743)

Introduced By

Del. David Bulova (D-Fairfax) with support from co-patron Del. Ibraheem Samirah (D-Herndon)

Progress

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

Description

Private student loan providers; certain disclosures. Requires any provider of private education loans to disclose to any student attending an institution of higher education in the Commonwealth, prior to issuing a qualified education loan to such student, the contact information for the Office of the Qualified Education Loan Ombudsman and a summary of the student loan information applicable to private education loans that may be found on the State Council of Higher Education's website. The bill provides that any such disclosure may be made in conjunction with or incorporated into another disclosure to such student prior to issuing the qualified education loan. The bill requires the summary to be developed by the Office of the Qualified Education Loan Ombudsman in consultation with relevant stakeholders. The bill has a delayed effective date of July 1, 2021. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/06/2020Committee
01/06/2020Prefiled and ordered printed; offered 01/08/20 20102544D
01/06/2020Referred to Committee on Education
01/13/2020Assigned Education sub: Post-Secondary and Higher Ed
01/22/2020Subcommittee recommends reporting with substitute (8-Y 0-N)
01/27/2020Committee substitute printed 20106390D-H1
01/27/2020Reported from Education with substitute (22-Y 0-N) (see vote tally)
01/29/2020Read first time
01/30/2020Read second time
01/30/2020Committee substitute agreed to 20106390D-H1
01/30/2020Engrossed by House - committee substitute HB743H1
01/31/2020Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/31/2020VOTE: Block Vote Passage (99-Y 0-N) (see vote tally)
02/03/2020Constitutional reading dispensed
02/03/2020Referred to Committee on Education and Health
02/14/2020Assigned Education sub: Higher Education
02/20/2020Reported from Education and Health with amendments (15-Y 0-N) (see vote tally)
02/21/2020Constitutional reading dispensed (32-Y 0-N) (see vote tally)
02/24/2020Read third time
02/24/2020Reading of amendments waived
02/24/2020Committee amendments agreed to
02/24/2020Engrossed by Senate as amended
02/24/2020Passed Senate with amendments (40-Y 0-N) (see vote tally)
02/26/2020Placed on Calendar
02/26/2020Senate amendments agreed to by House (96-Y 0-N)
02/26/2020VOTE: Adoption (96-Y 0-N) (see vote tally)
03/02/2020Enrolled
03/02/2020Bill text as passed House and Senate (HB743ER)
03/02/2020Impact statement from DPB (HB743ER)
03/02/2020Signed by Speaker
03/03/2020Signed by President
03/12/2020Enrolled Bill communicated to Governor on March 12, 2020
03/12/2020G Governor's Action Deadline 11:59 p.m., April 11, 2020
03/23/2020G Approved by Governor-Chapter 436 (effective 7/1/21)
03/23/2020G Acts of Assembly Chapter text (CHAP0436)

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