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2018 SESSION
SB 656 Virginia College Savings Plan; members of governing board to disclose personal interests, etc.
Introduced by: Emmett W. Hanger, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Virginia College Savings Plan. Makes several changes to the provisions that establish the Virginia College Savings Plan (the Plan), including (i) clarifying that members of the Plan's governing board (the board) are required to disclose personal interests pursuant to the State and Local Government Conflict of Interests Act, (ii) permitting the Plan to maintain an independent disbursement system for the disbursement of prepaid tuition contract benefits, and (iii) requiring each prepaid tuition contract entered into on or after July 1, 2018, to include provisions for the application of tuition prepayments, at a rate equal to the percentage of enrollment-weighted average tuition at public institutions of higher education to be determined by the board, at (a) public institutions of higher education, (b) accredited nonprofit independent or private institutions of higher education, and (c) non-Virginia public and accredited nonprofit independent or private institutions of higher education, provided that no such payment is less than the sum of tuition prepayments made, less any fees as determined by the board.
FULL TEXT
HISTORY
- 01/10/18 Senate: Prefiled and ordered printed; offered 01/10/18 18102996D
- 01/10/18 Senate: Referred to Committee on Education and Health
- 01/17/18 Senate: Assigned Education sub: Higher Education
- 01/25/18 Senate: Reported from Education and Health (15-Y 0-N)
- 01/25/18 Senate: Rereferred to Finance
- 02/07/18 Senate: Reported from Finance (14-Y 0-N 1-A)
- 02/08/18 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/09/18 Senate: Read second time and engrossed
- 02/12/18 Senate: Passed by temporarily
- 02/12/18 Senate: Read third time and passed Senate (40-Y 0-N)
- 02/15/18 House: Placed on Calendar
- 02/15/18 House: Read first time
- 02/15/18 House: Referred to Committee on Appropriations
- 02/22/18 House: Assigned App. sub: Higher Education
- 02/26/18 House: Subcommittee recommends continuing to 2019 by voice vote
- 03/06/18 House: Left in Appropriations