VA SB1368 | 2019 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - Governor: Acts of Assembly Chapter text (CHAP0805)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - Governor: Acts of Assembly Chapter text (CHAP0805)
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 sum of advanced payments to be made pursuant to each prepaid tuition contract of the Plan exceeds the amount estimated to be required to provide tuition at the fixed, guaranteed level that is specified in 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; prepaid tuition contracts, pricing reserves.
Sponsors
Roll Calls
2019-02-13 - Senate - Senate: House substitute agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-02-11 - House - House: VOTE: PASSAGE (96-Y 2-N) (Y: 96 N: 2 NV: 1 Abs: 0) [PASS]
2019-02-06 - House - House: Reported from Appropriations with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-23 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-22 - Senate - Senate: Reported from Finance with substitute (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-10 - Senate - Senate: Rereferred from Education and Health (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-11 - House - House: VOTE: PASSAGE (96-Y 2-N) (Y: 96 N: 2 NV: 1 Abs: 0) [PASS]
2019-02-06 - House - House: Reported from Appropriations with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-23 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-22 - Senate - Senate: Reported from Finance with substitute (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-10 - Senate - Senate: Rereferred from Education and Health (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-03-25 | Governor: Acts of Assembly Chapter text (CHAP0805) | |
2019-03-25 | Governor: Approved by Governor-Chapter 805 (effective 7/1/19) | |
2019-02-20 | Governor: Governor's Action Deadline Midnight, March 26, 2019 | |
2019-02-20 | Senate | Enrolled Bill Communicated to Governor on February 20, 2019 |
2019-02-19 | Senate | Signed by President |
2019-02-18 | House | Signed by Speaker |
2019-02-18 | Senate | Bill text as passed Senate and House (SB1368ER) |
2019-02-18 | Senate | Enrolled |
2019-02-13 | Senate | Title replaced 19106509D-H1 |
2019-02-13 | Senate | House substitute agreed to by Senate (39-Y 0-N) |
2019-02-11 | House | VOTE: PASSAGE (96-Y 2-N) |
2019-02-11 | House | Passed House with substitute (96-Y 2-N) |
2019-02-11 | House | Engrossed by House - committee substitute SB1368H1 |
2019-02-11 | House | Committee substitute agreed to 19106509D-H1 |
2019-02-11 | House | Read third time |
2019-02-08 | House | Read second time |
2019-02-06 | House | Committee substitute printed 19106509D-H1 |
2019-02-06 | House | Reported from Appropriations with substitute (22-Y 0-N) |
2019-02-05 | House | Assigned App. sub: Higher Education |
2019-01-29 | House | Referred to Committee on Appropriations |
2019-01-29 | House | Read first time |
2019-01-29 | House | Placed on Calendar |
2019-01-25 | Senate | Passed Senate (40-Y 0-N) |
2019-01-25 | Senate | Reconsideration of passage agreed to by Senate (40-Y 0-N) |
2019-01-25 | Senate | Read third time and passed Senate (39-Y 0-N) |
2019-01-24 | Senate | Engrossed by Senate - committee substitute SB1368S1 |
2019-01-24 | Senate | Committee substitute agreed to 19104911D-S1 |
2019-01-24 | Senate | Reading of substitute waived |
2019-01-24 | Senate | Read second time |
2019-01-23 | Senate | Constitutional reading dispensed (39-Y 0-N) |
2019-01-22 | Senate | Committee substitute printed 19104911D-S1 |
2019-01-22 | Senate | Reported from Finance with substitute (16-Y 0-N) |
2019-01-10 | Senate | Rereferred to Finance |
2019-01-10 | Senate | Rereferred from Education and Health (13-Y 0-N) |
2019-01-08 | Senate | Referred to Committee on Education and Health |
2019-01-08 | Senate | Prefiled and ordered printed; offered 01/09/19 19101483D |