SB 1368

  • Virginia Senate Bill
  • 2019 Regular Session
  • Introduced in Senate Jan 08, 2019
  • Senate
  • Passed House Feb 11, 2019
  • Governor

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

Abstract

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.

Bill Sponsors (1)

Votes


Actions


Feb 18, 2019

Senate

Enrolled

Feb 13, 2019

Senate

Title replaced 19106509D-H1

Feb 11, 2019

House

Committee substitute agreed to 19106509D-H1

House

Read third time

House

Engrossed by House - committee substitute SB1368H1

House

Passed House with substitute (96-Y 2-N)

Feb 08, 2019

House

Read second time

Feb 05, 2019

House

Assigned App. sub: Higher Education

Jan 29, 2019

House

Placed on Calendar

House

Read first time

House

Referred to Committee on Appropriations

Jan 24, 2019

Senate

Reading of substitute waived

Senate

Engrossed by Senate - committee substitute SB1368S1

Senate

Read second time

Senate

Committee substitute agreed to 19104911D-S1

Jan 10, 2019

Senate

Rereferred to Finance

Jan 08, 2019

Senate

Prefiled and ordered printed; offered 01/09/19 19101483D

Senate

Referred to Committee on Education and Health

Bill Text

Bill Text Versions Format
Senate: Prefiled and ordered printed; offered 01/09/19 19101483D HTML
Senate: Committee substitute printed 19104911D-S1 HTML
House: Committee substitute printed 19106509D-H1 HTML
Senate: Bill text as passed Senate and House (SB1368ER) HTML

Related Documents

Document Format
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Sources

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