VA HB2396 | 2023 | Regular Session

Status

Spectrum: Slight Partisan Bill (Democrat 9-4)
Status: Introduced on January 17 2023 - 25% progression, died in committee
Action: 2023-02-07 - Left in Education
Pending: House Education Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Public institutions of higher education; Virginia College Savings Plan; renamed Commonwealth Savers Plan; duties of governing board. Renames the Virginia College Savings Plan as the Commonwealth Savers Plan (the Plan) and amends all relevant references to "college savings trust account" to "education savings trust account." The bill provides that the purpose of the Plan is to enhance the accessibility, affordability, and attainability of higher education in the Commonwealth. The bill expands the duties of the governing board (the board) of the Plan to include developing, implementing, and funding programs or partnerships to enhance the accessibility, affordability, and attainability of higher education for underserved and underrepresented communities and students and authorizes the board to develop policies for the funding and review of such programs or partnerships. The bill expands the definition of "current obligations of the Plan" to include any additional benefit or educational access, affordability, and attainability program or partnership developed pursuant to the Plan. The bill further prohibits any officer, director, or member of the board or of any advisory committee to the board from being held personally liable for any loss suffered by the Plan. Finally, the bill provides that any benefit paid on any prepaid tuition contract entered into prior to July 1, 2019, may be supplemented by an additional benefit, subject to the determination and discretion of the board. The bill contains technical amendments.

Tracking Information

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Title

Virginia College Savings Plan; renamed Commonwealth Savers Plan, duties of governing board.

Sponsors


Roll Calls

2023-01-30 - House - House: Subcommittee failed to recommend reporting (4-Y 6-N) (Y: 4 N: 6 NV: 0 Abs: 0) [FAIL]

History

DateChamberAction
2023-02-07HouseLeft in Education
2023-01-30HouseSubcommittee failed to recommend reporting (4-Y 6-N)
2023-01-20HouseAssigned Education sub: Higher Education
2023-01-17HouseReferred to Committee on Education
2023-01-17HousePresented and ordered printed 23103572D

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
222744(n/a)See Bill Text
222753(n/a)See Bill Text
222905(n/a)See Bill Text
223114(n/a)See Bill Text
223705.4(n/a)See Bill Text
223705.7(n/a)See Bill Text
223711(n/a)See Bill Text
224006(n/a)See Bill Text
224343(n/a)See Bill Text
2311004(n/a)See Bill Text
231306(n/a)See Bill Text
231700(n/a)See Bill Text
231701(n/a)See Bill Text
231704(n/a)See Bill Text
231707(n/a)See Bill Text
511505.01(n/a)See Bill Text
581322.02(n/a)See Bill Text
581322.03(n/a)See Bill Text
581344.4(n/a)See Bill Text
801424(n/a)See Bill Text

Virginia State Sources


Bill Comments

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