Virginia House Bill 253 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 16-1)
Status: Introduced on January 11 2022 - 25% progression, died in committee
Action: 2022-02-15 - Left in Appropriations
Pending: House Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]

Literary Fund; loans; application Literary Fund; loans; application process; maximum loan amounts; rates of interest; closing costs; waiting lists. Makes several changes to the provisions relating to loans from the Literary Fund to finance the construction and renovation of public elementary and secondary school buildings in the Commonwealth. The bill requires the Board of Education (the Board) to establish an annual open application process for Literary Fund loans to occur during the period that the Board deems most suitable. The bill increases from $7.5 million to $25 million the maximum Literary Fund loan amount and permits the Board to increase such maximum to up to $35 million for loans for any school construction or renovation project that facilitates the consolidation of schools. The bill requires the Board to fix the interest rate on all loans made from the Literary Fund at not less than one percent per year, not more than three percent per year, and at increments of one half of one percent per year between such minimum and maximum rates, payable annually, and to utilize a sliding scale based on the local school division's composite index of local ability to pay to determine the interest rate on each such loan. Under current law, such rates are required to be set between two and six percent per year. The bill requires the Board to establish a competitive program for the award of up to $25,000 to a school division that receives a Literary Fund loan for the purpose of subsidizing all or a portion of the closing costs for such loan. The bill also permits the Board to remove any project that has been inactive for at least five years from any Literary Fund loan project waiting list that it maintains. This bill is a recommendation of the Commission on School Construction and Modernization.

Literary Fund; open application process for loans, maximum loan amounts, etc.

Del. Shelly Simonds [D]	Del. Jeffrey Bourne [D]	Del. Ronnie Campbell [R]	Del. Kelly Convirs-Fowler [D]
Del. Elizabeth Bennett-Parker [D]	Del. Nadarius Clark [D]	Del. Jackie Glass [D]	Del. Patrick Hope [D]
Del. Clinton Jenkins [D]	Del. Mark Keam [D]	Del. Kaye Kory [D]	Del. Michelle Maldonado [D]
Del. Kathleen Murphy [D]	Del. Kenneth Plum [D]	Del. Sam Rasoul [D]	Del. David Reid [D]
Del. Marcus Simon [D]

2022-02-07 - House - House: Subcommittee recommends laying on the table (5-Y 3-N) (Y: 5 N: 3 NV: 0 Abs: 0) [PASS]
2022-01-31 - House - House: Reported from Education (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-26 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2022-02-15	House	Left in Appropriations
2022-02-07	House	Subcommittee recommends laying on the table (5-Y 3-N)
2022-01-31	House	Assigned App. sub: Elementary & Secondary Education
2022-01-31	House	Referred to Committee on Appropriations
2022-01-31	House	Reported from Education (22-Y 0-N)
2022-01-26	House	Subcommittee recommends referring to Committee on Appropriations
2022-01-26	House	Subcommittee recommends reporting (8-Y 0-N)
2022-01-24	House	Assigned Education sub: Early Childhood/Innovation
2022-01-11	House	Referred to Committee on Education
2022-01-11	House	Prefiled and ordered printed; offered 01/12/22 22103502D

Chapter	Article	Section	Citation Type	Statute Text
22	1	146.2	(n/a)	See Bill Text
22	1	147	(n/a)	See Bill Text
22	1	148	(n/a)	See Bill Text
22	1	150	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+HB253
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB253+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?221+oth+HB253F122+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+H0903V0008+HB0253
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+H09V0020+HB0253
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+H0203V0005+HB0253