SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1995 SESSION
HB 2173 Public School Authority; bonds.
Introduced by: J. Paul Councill, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Virginia Public School Authority. Increases the total principal amount of the bonds which may be issued under the VPSA's moral obligation resolution from $500 million to $800 million. This bill is a recommendation of the Select Committee Studying School Construction and Renovation Funding. Virginia has two mechanisms for funding school construction, i.e., the Literary Fund and the Virginia Public School Authority. Because Literary Fund moneys have been used to fund various other education programs, the liquidity of the Literary Fund for construction loans has been reduced in recent years. Literary Fund interest rate subsidies and the moral obligation resolution of the Virginia Public School Authority have kept some funds flowing to school construction; however, statewide, school boards are facing an enormous unmet need, with the average age of school buildings in Virginia over 30 years. At this time, the total principal amount of the moral obligation bond resolution could bump up against the $500 million cap.
FULL TEXT
- 01/23/95 House: Presented & ordered printed LD5816168 pdf
- 02/14/95 House: Bill text as passed House and Senate (HB2173ER) pdf
- 03/17/95 Governor: Acts of Assembly Chapter text (CHAP0233) pdf
HISTORY
- 01/23/95 House: Presented & ordered printed LD5816168
- 01/23/95 House: Referred to Committee on Education
- 01/27/95 House: Reported from Education (16-Y 2-N)
- 01/27/95 House: Referred to Committee on Appropriations
- 01/31/95 House: Reported from Appropriations (18-Y 0-N)
- 02/01/95 House: Read first time
- 02/02/95 House: Read second time and engrossed
- 02/03/95 House: Read third time and passed House (Block Vote) (100-Y 0-N)
- 02/03/95 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/03/95 House: Communicated to Senate
- 02/06/95 Senate: Read first time
- 02/06/95 Senate: Referred to Committee on Education and Health
- 02/09/95 Senate: Reported from Education and Health (14-Y 0-N)
- 02/10/95 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/10/95 Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
- 02/13/95 Senate: Read third time
- 02/13/95 Senate: Passed Senate (40-Y 0-N)
- 02/13/95 Senate: VOTE: PASSAGE (40-Y 0-N)
- 02/14/95 House: Bill text as passed House and Senate (HB2173ER)
- 02/20/95 House: Enrolled
- 02/20/95 House: Signed by Speaker
- 02/21/95 Senate: Signed by President
- 03/14/95 Governor: Approved by Governor-Chapter 233 (effective 7/1/95)
- 03/17/95 Governor: Acts of Assembly Chapter text (CHAP0233)