VA HB1611 | 2019 | Regular Session
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Republican 9-1)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - Governor: Acts of Assembly Chapter text (CHAP0806)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Moderate Partisan Bill (Republican 9-1)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - Governor: Acts of Assembly Chapter text (CHAP0806)
Text: Latest bill text (Chaptered) [HTML]
Summary
Virginia College Savings Plan; prepaid tuition contracts; pricing reserves. Provides that in the event that the ratio of the assets of the Virginia College Savings Plan (the Plan) to the obligations of the Plan exceeds 105 percent, the pricing reserve, which the bill defines as the percentage by which the actuarially determined prepaid tuition contract price exceeds the amount estimated to meet the actuarially determined tuition obligation for such prepaid tuition contract, shall not exceed five percent. The bill provides that in the event that the ratio of the assets of the Plan to the obligations of the Plan does not meet or exceed 105 percent, the pricing reserve may exceed five percent but shall not exceed 10 percent. The bill also requires the governing board of the Plan to provide to the House Committee on Appropriations, the Senate Committee on Finance, and the Joint Legislative Audit and Review Commission written notification and a detailed explanation of any change to the pricing reserve within 30 days of such change.
Title
Virginia College Savings Plan; definitions, prepaid tuition contracts, pricing reserves.
Sponsors
Roll Calls
2019-02-18 - House - House: VOTE: ADOPTION (97-Y 1-N) (Y: 97 N: 1 NV: 1 Abs: 0) [PASS]
2019-02-14 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-13 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-02-12 - Senate - Senate: Reported from Finance with substitute (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-07 - Senate - Senate: Rereferred from Education and Health (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-05 - House - House: VOTE: PASSAGE (94-Y 5-N) (Y: 94 N: 5 NV: 0 Abs: 0) [PASS]
2019-01-30 - House - House: Reported from Appropriations (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-21 - House - House: Reported from Education (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-14 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-14 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-13 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-02-12 - Senate - Senate: Reported from Finance with substitute (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-07 - Senate - Senate: Rereferred from Education and Health (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-05 - House - House: VOTE: PASSAGE (94-Y 5-N) (Y: 94 N: 5 NV: 0 Abs: 0) [PASS]
2019-01-30 - House - House: Reported from Appropriations (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-21 - House - House: Reported from Education (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-14 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-03-25 | Governor: Acts of Assembly Chapter text (CHAP0806) | |
2019-03-25 | Governor: Approved by Governor-Chapter 806 (effective 7/1/19) | |
2019-02-28 | Governor: Governor's Action Deadline Midnight, March 26, 2019 | |
2019-02-28 | House | Enrolled Bill communicated to Governor on February 28, 2019 |
2019-02-21 | Senate | Signed by President |
2019-02-21 | House | Signed by Speaker |
2019-02-21 | House | Bill text as passed House and Senate (HB1611ER) |
2019-02-21 | House | Enrolled |
2019-02-18 | House | VOTE: ADOPTION (97-Y 1-N) |
2019-02-18 | House | Senate substitute agreed to by House 19106832D-S1 (97-Y 1-N) |
2019-02-18 | House | Placed on Calendar |
2019-02-14 | Senate | Passed Senate with substitute (40-Y 0-N) |
2019-02-14 | Senate | Engrossed by Senate - committee substitute HB1611S1 |
2019-02-14 | Senate | Committee substitute agreed to 19106832D-S1 |
2019-02-14 | Senate | Reading of substitute waived |
2019-02-14 | Senate | Read third time |
2019-02-13 | Senate | Constitutional reading dispensed (39-Y 0-N) |
2019-02-12 | Senate | Committee substitute printed 19106832D-S1 |
2019-02-12 | Senate | Reported from Finance with substitute (14-Y 0-N) |
2019-02-07 | Senate | Rereferred to Finance |
2019-02-07 | Senate | Rereferred from Education and Health (15-Y 0-N) |
2019-02-06 | Senate | Referred to Committee on Education and Health |
2019-02-06 | Senate | Constitutional reading dispensed |
2019-02-05 | House | VOTE: PASSAGE (94-Y 5-N) |
2019-02-05 | House | Read third time and passed House (94-Y 5-N) |
2019-02-04 | House | Read second time and engrossed |
2019-02-01 | House | Read first time |
2019-01-30 | House | Reported from Appropriations (22-Y 0-N) |
2019-01-25 | House | Subcommittee recommends reporting (8-Y 0-N) |
2019-01-21 | House | Assigned App. sub: Higher Education |
2019-01-21 | House | Referred to Committee on Appropriations |
2019-01-21 | House | Reported from Education (22-Y 0-N) |
2019-01-14 | House | Subcommittee recommends referring to Committee on Appropriations |
2019-01-14 | House | Subcommittee recommends reporting (8-Y 0-N) |
2019-01-11 | House | Assigned Education sub: Subcommittee #3 |
2018-08-08 | House | Referred to Committee on Education |
2018-08-08 | House | Prefiled and ordered printed; offered 01/09/19 19100157D |