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2023 SESSION

• | print version

SB 1434 Higher educational institutions, public; use of certain endowment fund investment returns.

Introduced by: David R. Suetterlein | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Public institutions of higher education; use of certain endowment fund investment returns. Declares it the public policy of the Commonwealth that any foundation, investment management company, or other asset manager associated with a public institution of higher education that manages endowment funds of such public institution of higher education with a value exceeding $250 million shall be required to allocate at least 15 percent of the investment returns on such endowment funds back to such public institution of higher education on an annual basis for the purpose of ensuring access to and affordability of attending the institution for students.

FULL TEXT

• 01/11/23  Senate: Prefiled and ordered printed; offered 01/11/23 23101490D  pdf | impact statement

HISTORY

• 01/11/23  Senate: Prefiled and ordered printed; offered 01/11/23 23101490D
• 01/11/23  Senate: Referred to Committee on Education and Health
• 01/20/23  Senate: Assigned Education sub: Higher Education
• 02/02/23  Senate: Passed by indefinitely in Education and Health (10-Y 5-N)