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2023 SESSION

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HB 2425 Higher educational institutions; information about institutional debt, report, civil penalty.

Introduced by: Lamont Bagby-Resigned 4/11 | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Secretary of Education; institutions of higher education; information about institutional debt; report; civil penalty. Requires certain institutions of higher education in the Commonwealth to report to the Secretary of Education on January 1 of each calendar year certain information and documents relating to certain educational debts owed to the institution by current and former students as of the end of the prior calendar year and requires the Secretary, with the cooperation and assistance of the State Council of Higher Education for Virginia, to issue a report that includes the information and documents provided by each such institution no later than July 1 of each calendar year. The bill also allows the Secretary to impose a civil penalty of not more than $10,000 for each violation on an institution of higher education that fails to comply with the reporting requirements of the bill.


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