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2007 SESSION
HB 1740 University of Virginia; authorizes Bd. of Visitors to invest & manage nongeneral fund reserves, etc.
Introduced by: William H. Fralin, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Board of Visitors of the University of Virginia. Authorizes the board of visitors of the University of Virginia to invest and manage nongeneral fund reserves and balances as well as local funds of or held by the University. Exempts members of the board of visitors from personal liability for losses suffered by investment of nongeneral fund reserves and balances or local funds of or held by the University. The bill also exempts the investment and management of nongeneral fund reserves and balances and local funds of or held by the University from the Virginia Public Procurement Act. Finally, the bill allows the nongeneral fund reserves and balances and local funds of or held by the University to be invested or reinvested in derivatives, options, and financial securities.
An enactment clause clarifies that the University shall not invest revenues from tuition and educational fees that are used or required for the day-to-day operations of the University in other than cash accounts and fixed income securities.
FULL TEXT
- 12/22/06 House: Prefiled and ordered printed; offered 01/10/07 078321302 pdf | impact statement
- 03/08/07 House: Bill text as passed House and Senate (HB1740ER) pdf | impact statement
- 03/27/07 Governor: Acts of Assembly Chapter text (CHAP0434) pdf
AMENDMENTS
HISTORY
- 12/22/06 House: Prefiled and ordered printed; offered 01/10/07 078321302
- 12/22/06 House: Referred to Committee on Education
- 01/15/07 House: Assigned Education sub: Higher Education (Rust)
- 01/22/07 House: Reported from Education (21-Y 0-N)
- 01/23/07 House: Read first time
- 01/24/07 House: Read second time and engrossed
- 01/25/07 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/25/07 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 01/25/07 House: Communicated to Senate
- 01/26/07 Senate: Constitutional reading dispensed
- 01/26/07 Senate: Referred to Committee on Education and Health
- 02/02/07 Senate: Assigned Education sub: Higher Education
- 02/15/07 Senate: Reported from Education and Health (15-Y 0-N)
- 02/15/07 Senate: Rereferred to Finance
- 02/15/07 Senate: Reported from Finance with amendment (13-Y 0-N)
- 02/19/07 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/19/07 Senate: VOTE: (40-Y 0-N)
- 02/20/07 Senate: Read third time
- 02/20/07 Senate: Reading of amendment waived
- 02/20/07 Senate: Committee amendment agreed to
- 02/20/07 Senate: Engrossed by Senate as amended
- 02/20/07 Senate: Passed Senate with amendment (40-Y 0-N)
- 02/20/07 Senate: VOTE: (40-Y 0-N)
- 02/21/07 House: Placed on Calendar
- 02/22/07 House: Senate amendment agreed to by House (96-Y 1-N)
- 02/22/07 House: VOTE: ADOPTION (96-Y 1-N)
- 03/08/07 House: Enrolled
- 03/08/07 House: Bill text as passed House and Senate (HB1740ER)
- 03/08/07 House: Signed by Speaker
- 03/11/07 Senate: Signed by President
- 03/19/07 Governor: Approved by Governor-Chapter 434 (effective 7/1/07)
- 03/27/07 Governor: Acts of Assembly Chapter text (CHAP0434)