Virginia Senate Bill 1368 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - Governor: Acts of Assembly Chapter text (CHAP0805)
Text: Latest bill text (Chaptered) [HTML]

Virginia College Savings Plan; prepaid tuition contracts; pricing reserves. Provides that in the event that the ratio of the assets of the Virginia College Savings Plan (the Plan) to the obligations of the Plan exceeds 105 percent, the pricing reserve, which the bill defines as the percentage by which the sum of advanced payments to be made pursuant to each prepaid tuition contract of the Plan exceeds the amount estimated to be required to provide tuition at the fixed, guaranteed level that is specified in such prepaid tuition contract, shall not exceed five percent. The bill provides that in the event that the ratio of the assets of the Plan to the obligations of the Plan does not meet or exceed 105 percent, the pricing reserve may exceed five percent but shall not exceed 10 percent. The bill also requires the governing board of the Plan to provide to the House Committee on Appropriations, the Senate Committee on Finance, and the Joint Legislative Audit and Review Commission written notification and a detailed explanation of any change to the pricing reserve within 30 days of such change.

Virginia College Savings Plan; prepaid tuition contracts, pricing reserves.

Sen. Thomas Norment [R]

2019-02-13 - Senate - Senate: House substitute agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-02-11 - House - House: VOTE: PASSAGE (96-Y 2-N) (Y: 96 N: 2 NV: 1 Abs: 0) [PASS]
2019-02-06 - House - House: Reported from Appropriations with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-23 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-22 - Senate - Senate: Reported from Finance with substitute (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-10 - Senate - Senate: Rereferred from Education and Health (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2019-03-25		Governor: Acts of Assembly Chapter text (CHAP0805)
2019-03-25		Governor: Approved by Governor-Chapter 805 (effective 7/1/19)
2019-02-20		Governor: Governor's Action Deadline Midnight, March 26, 2019
2019-02-20	Senate	Enrolled Bill Communicated to Governor on February 20, 2019
2019-02-19	Senate	Signed by President
2019-02-18	House	Signed by Speaker
2019-02-18	Senate	Bill text as passed Senate and House (SB1368ER)
2019-02-18	Senate	Enrolled
2019-02-13	Senate	Title replaced 19106509D-H1
2019-02-13	Senate	House substitute agreed to by Senate (39-Y 0-N)
2019-02-11	House	VOTE: PASSAGE (96-Y 2-N)
2019-02-11	House	Passed House with substitute (96-Y 2-N)
2019-02-11	House	Engrossed by House - committee substitute SB1368H1
2019-02-11	House	Committee substitute agreed to 19106509D-H1
2019-02-11	House	Read third time
2019-02-08	House	Read second time
2019-02-06	House	Committee substitute printed 19106509D-H1
2019-02-06	House	Reported from Appropriations with substitute (22-Y 0-N)
2019-02-05	House	Assigned App. sub: Higher Education
2019-01-29	House	Referred to Committee on Appropriations
2019-01-29	House	Read first time
2019-01-29	House	Placed on Calendar
2019-01-25	Senate	Passed Senate (40-Y 0-N)
2019-01-25	Senate	Reconsideration of passage agreed to by Senate (40-Y 0-N)
2019-01-25	Senate	Read third time and passed Senate (39-Y 0-N)
2019-01-24	Senate	Engrossed by Senate - committee substitute SB1368S1
2019-01-24	Senate	Committee substitute agreed to 19104911D-S1
2019-01-24	Senate	Reading of substitute waived
2019-01-24	Senate	Read second time
2019-01-23	Senate	Constitutional reading dispensed (39-Y 0-N)
2019-01-22	Senate	Committee substitute printed 19104911D-S1
2019-01-22	Senate	Reported from Finance with substitute (16-Y 0-N)
2019-01-10	Senate	Rereferred to Finance
2019-01-10	Senate	Rereferred from Education and Health (13-Y 0-N)
2019-01-08	Senate	Referred to Committee on Education and Health
2019-01-08	Senate	Prefiled and ordered printed; offered 01/09/19 19101483D

Chapter	Article	Section	Citation Type	Statute Text
23	1	707.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+SB1368
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1368+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1368S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1368H1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1368ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+CHAP0805+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S04V0024+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S05V0082+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0151SB1368+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0178SB1368+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0179SB1368+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0180SB1368+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H02V0167+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+HV2663+SB1368
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0570SB1368+SB1368