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2009 SESSION
HB 1725 Visitors, board of; College of William & Mary, VCU, & VPI&SU boards authorized to invest funds, etc.
Introduced by: Thomas Davis Rust | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Board of visitors; the College of William and Mary, Virginia Polytechnic Institute and State University, and Virginia Commonwealth University. Authorizes the boards of visitors of the College of William and Mary, Virginia Polytechnic Institute and State University, and Virginia Commonwealth University to invest and manage endowment funds, endowment income, gifts, and all other nongeneral fund reserves and balances as well as local funds of or held by the College or Universities. Exempts members of the board of visitors from personal liability for losses suffered by such investment. The bill also exempts the investment and management of endowment funds, endowment income, gifts, and all other nongeneral fund reserves and balances and local funds of or held by the College and Universities from the Virginia Public Procurement Act. Finally, the bill allows the endowment funds, endowment income, gifts, and all other nongeneral fund reserves and balances and local funds of or held by the College or Universities to be invested or reinvested in derivatives, options, and financial securities in accordance with the Uniform Prudent Management of Institutional Funds Act. This bill is identical to SB 1395.
FULL TEXT
- 01/06/09 House: Prefiled and ordered printed; offered 01/14/09 098371708 pdf | impact statement
- 01/26/09 House: Committee substitute printed 093402708-H1 pdf | impact statement
- 02/24/09 House: Bill text as passed House and Senate (HB1725ER) pdf | impact statement
- 03/30/09 Governor: Acts of Assembly Chapter text (CHAP0737) pdf
HISTORY
- 01/06/09 House: Prefiled and ordered printed; offered 01/14/09 098371708
- 01/06/09 House: Referred to Committee on Education
- 01/20/09 House: Assigned Education sub: Higher Education and Arts
- 01/20/09 House: Subcommittee recommends reporting with amendment(s)
- 01/26/09 House: Reported from Education with substitute (22-Y 0-N)
- 01/26/09 House: Committee substitute printed 093402708-H1
- 01/27/09 House: Read first time
- 01/28/09 House: Read second time
- 01/28/09 House: Committee substitute agreed to 093402708-H1
- 01/28/09 House: Engrossed by House - committee substitute HB1725H1
- 01/29/09 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 01/29/09 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 01/30/09 Senate: Constitutional reading dispensed
- 01/30/09 Senate: Referred to Committee on Education and Health
- 02/12/09 Senate: Reported from Education and Health (15-Y 0-N)
- 02/12/09 Senate: Rereferred to Finance
- 02/17/09 Senate: Reported from Finance (16-Y 0-N)
- 02/18/09 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/19/09 Senate: Read third time
- 02/19/09 Senate: Passed Senate (40-Y 0-N)
- 02/24/09 House: Enrolled
- 02/24/09 House: Bill text as passed House and Senate (HB1725ER)
- 02/25/09 House: Signed by Speaker
- 02/27/09 Senate: Signed by President
- 03/30/09 Governor: Approved by Governor-Chapter 737 (effective 7/1/09)
- 03/30/09 Governor: Acts of Assembly Chapter text (CHAP0737)