Virginia House Bill 1611 (Prior Session Legislation)

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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]

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.

Virginia College Savings Plan; definitions, prepaid tuition contracts, pricing reserves.

Del. Steven Landes [R]	Del. Timothy Hugo [R]	Del. Gordon Helsel [R]	Del. Kaye Kory [D]
Del. Dave LaRock [R]	Del. Joseph McNamara [R]	Del. Jason Miyares [R]	Del. Roxann Robinson [R]
Del. Robert Thomas [R]	Del. David Yancey [R]

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]

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

Chapter	Article	Section	Citation Type	Statute Text
23	1	707.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+HB1611
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB1611+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB1611S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB1611ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+CHAP0806+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H0903V0001+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H09V0021+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H0206V0011+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H02V0035+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+HV2503+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S04V0179+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S05V0312+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0547HB1611+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0633HB1611+HB1611
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+HV2890+HB1611