Fabio
7.9 KiB
type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
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| Bill | Financial institutions; qualified education loan servicers, definitions. | Financial institutions; qualified education loan servicers; definition. Provides that "qualified education loan servicer" means any person that meets all of the following criteria: (i) receives any scheduled periodic payments from a qualified education loan borrower or notification of such payments or applies payments to the qualified education loan borrower's account pursuant to the terms of the qualified education loan or the contract governing the servicing; (ii) during a period when no payment is required on a qualified education loan, maintains account records for the qualified education loan and communicates with the qualified education loan borrower regarding the qualified education loan, on behalf of the qualified education loan's holder; and (iii) interacts with a qualified education loan borrower, which includes conducting activities to help prevent default on obligations arising from qualified education loans or to facilitate certain activities. Under current law, "qualified education loan servicer" means a person that meets any one or more of such criteria.The bill provides that "servicing" means undertaking all of the following activities: (a) receiving any scheduled periodic payments from a qualified education loan borrower or notification of such payments or applying the payments of principal and interest and such other payments, with respect to the amounts received from a qualified education loan borrower, as may be required pursuant to the terms of a qualified education loan; (b) during a period when no payment is required on a qualified education loan, maintaining account records for the loan and communicating with the qualified education loan borrower regarding the qualified education loan, on behalf of the qualified education loan's holder; and (c) interacting with a qualified education loan borrower, including conducting activities to help prevent default on obligations arising from qualified education loans or to facilitate any such activity. Under current law, "servicing" means undertaking any one or more of such activities. This bill is identical to HB 203. | us/states/va | Virginia General Assembly | 2022 | SB 496 | Virginia SB 496 (2022) |
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enacted |
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3 | 24 | 6 | 2022-01-12 | 2022-04-11 | openstates | ocd-bill/8bf3a206-462d-4df6-b60e-b277b6616e5f | https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+SB496 | 1822df548d9c3aad9c6063ea59e3c12e530adbe939956b9d0c8556dd5e9e6406 | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Virginia SB 496 (2022) — Financial institutions; qualified education loan servicers, definitions.
Financial institutions; qualified education loan servicers; definition. Provides that "qualified education loan servicer" means any person that meets all of the following criteria: (i) receives any scheduled periodic payments from a qualified education loan borrower or notification of such payments or applies payments to the qualified education loan borrower's account pursuant to the terms of the qualified education loan or the contract governing the servicing; (ii) during a period when no payment is required on a qualified education loan, maintains account records for the qualified education loan and communicates with the qualified education loan borrower regarding the qualified education loan, on behalf of the qualified education loan's holder; and (iii) interacts with a qualified education loan borrower, which includes conducting activities to help prevent default on obligations arising from qualified education loans or to facilitate certain activities. Under current law, "qualified education loan servicer" means a person that meets any one or more of such criteria.The bill provides that "servicing" means undertaking all of the following activities: (a) receiving any scheduled periodic payments from a qualified education loan borrower or notification of such payments or applying the payments of principal and interest and such other payments, with respect to the amounts received from a qualified education loan borrower, as may be required pursuant to the terms of a qualified education loan; (b) during a period when no payment is required on a qualified education loan, maintaining account records for the loan and communicating with the qualified education loan borrower regarding the qualified education loan, on behalf of the qualified education loan's holder; and (c) interacting with a qualified education loan borrower, including conducting activities to help prevent default on obligations arising from qualified education loans or to facilitate any such activity. Under current law, "servicing" means undertaking any one or more of such activities. This bill is identical to HB 203.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
- CHAP0371 (committee substitute) — source
- Prefiled and ordered printed; offered 01/12/22 22101499D (committee substitute) — source
- SB496ER (committee substitute) — source
Votes
- Reported from Commerce and Labor (15-Y 0-N) — 15–0 (pass) · upper
- Read third time and passed Senate (39-Y 0-N) — 39–0 (pass) · upper
- VOTE: Passage (53-Y 45-N) — 52–45 (pass) · lower
- Reported from Commerce and Energy (12-Y 10-N) — 12–10 (pass) · lower
- Subcommittee recommends reporting (5-Y 1-N) — 5–1 (pass) · lower
- Constitutional reading dispensed (40-Y 0-N) — 40–0 (pass) · upper
Sponsors
- Lynwood W. Lewis, Jr. — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2022-01-12 Prefiled and ordered printed; offered 01/12/22 22101499D
introduction - 2022-01-12 Referred to Committee on Commerce and Labor
referral-committee - 2022-01-20 Impact statement from SCC (SB496)
- 2022-01-31 Reported from Commerce and Labor (15-Y 0-N)
committee-passage - 2022-02-02 Constitutional reading dispensed (40-Y 0-N)
- 2022-02-03 Read second time and engrossed
reading-2 - 2022-02-04 Read third time and passed Senate (39-Y 0-N)
passage, reading-3 - 2022-02-21 Placed on Calendar
- 2022-02-21 Read first time
reading-1 - 2022-02-21 Referred to Committee on Commerce and Energy
referral-committee - 2022-02-28 Assigned sub: Subcommittee #4
referral-committee - 2022-03-01 Subcommittee recommends reporting (5-Y 1-N)
- 2022-03-03 Reported from Commerce and Energy (12-Y 10-N)
committee-passage - 2022-03-07 Read second time
reading-2 - 2022-03-08 Read third time
reading-3 - 2022-03-08 Passed House (53-Y 45-N)
passage - 2022-03-08 VOTE: Passage (53-Y 45-N)
- 2022-03-10 Enrolled
- 2022-03-10 Impact statement from SCC (SB496ER)
- 2022-03-10 Signed by President
- 2022-03-10 Signed by Speaker
- 2022-03-22 Enrolled Bill Communicated to Governor on March 22, 2022
- 2022-03-22 Governor's Action Deadline 11:59 p.m., April 11, 2022
- 2022-04-11 Approved by Governor-Chapter 371 (effective 7/1/22)
executive-signature
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/8bf3a206-462d-4df6-b60e-b277b6616e5f. Confidence: reported (aggregated from official Virginia legislature records).