Virginia House Bill 2409 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
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]

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. 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.

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

Del. Eileen Filler-Corn [D]

2023-01-23 - House - House: Subcommittee recommends striking from docket (10-Y 0-N) (Y: 10 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2023-02-07	House	Left in Education
2023-01-23	House	Subcommittee recommends striking from docket (10-Y 0-N)
2023-01-20	House	Assigned Education sub: Higher Education
2023-01-17	House	Referred to Committee on Education
2023-01-17	House	Presented and ordered printed 23103949D

Chapter	Article	Section	Citation Type	Statute Text
2	2	2744	(n/a)	See Bill Text
2	2	2753	(n/a)	See Bill Text
2	2	2905	(n/a)	See Bill Text
2	2	3114	(n/a)	See Bill Text
2	2	3705.4	(n/a)	See Bill Text
2	2	3705.7	(n/a)	See Bill Text
2	2	3711	(n/a)	See Bill Text
2	2	4006	(n/a)	See Bill Text
2	2	4343	(n/a)	See Bill Text
23	1	1004	(n/a)	See Bill Text
23	1	306	(n/a)	See Bill Text
23	1	700	(n/a)	See Bill Text
23	1	701	(n/a)	See Bill Text
23	1	704	(n/a)	See Bill Text
23	1	707	(n/a)	See Bill Text
51	1	505.01	(n/a)	See Bill Text
58	1	322.02	(n/a)	See Bill Text
58	1	322.03	(n/a)	See Bill Text
58	1	344.4	(n/a)	See Bill Text
8	01	424	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+HB2409
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+HB2409+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+H0902V0004+HB2409