republic-os/legislation/us/states/va/2022/sb-64.md

---
type: "Bill"
title: "Proceeds of compromise agreements; investment in college savings trust accounts for minors."
description: "Proceeds of compromise agreements; minors; investmentin college savings trust accounts. Permits a court to directthe payment of the proceeds of an approved compromise agreement,in the case of damage to the person or property of a minor, by investmentin a college savings trust account for which the minor is the beneficiarypursuant to a college savings trust agreement with the Virginia CollegeSavings Plan, provided that (i) the investment options pursuant tosuch agreement are restricted to target enrollment portfolios; (ii)the order or decree approving and confirming the compromise requiresthe minor beneficiary's parent, as that term is defined in relevantlaw, to act as the custodian of the account; and (iii) except inthe case of a distribution from the account to be applied towardthe minor beneficiary's qualified higher education expenses, as that term is defined in relevant federal law, the order or decree approvingand confirming the compromise prohibits the minor beneficiary's parentfrom making any transfer, withdrawal, termination, or other accounttransaction unless the court provides prior approval pursuant toa written order."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2022"
identifier: "SB 64"
citation: "Virginia SB 64 (2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Scott A. Surovell"]
version_count: 3
action_count: 24
vote_count: 6
first_action: "2022-01-03"
last_action: "2022-04-11"
source: "openstates"
source_identifier: "ocd-bill/dd09245b-1034-4640-8e4d-5ec62d21a3c1"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+SB64"
source_hash: "665b7ad9ec78863aa939dd80b8090d6332e1e7ae5175cd0b4fd4f8a7852c5122"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-va"]
---

# Virginia SB 64 (2022) — Proceeds of compromise agreements; investment in college savings trust accounts for minors.

Proceeds of compromise agreements; minors; investmentin college savings trust accounts. Permits a court to directthe payment of the proceeds of an approved compromise agreement,in the case of damage to the person or property of a minor, by investmentin a college savings trust account for which the minor is the beneficiarypursuant to a college savings trust agreement with the Virginia CollegeSavings Plan, provided that (i) the investment options pursuant tosuch agreement are restricted to target enrollment portfolios; (ii)the order or decree approving and confirming the compromise requiresthe minor beneficiary's parent, as that term is defined in relevantlaw, to act as the custodian of the account; and (iii) except inthe case of a distribution from the account to be applied towardthe minor beneficiary's qualified higher education expenses, as that term is defined in relevant federal law, the order or decree approvingand confirming the compromise prohibits the minor beneficiary's parentfrom making any transfer, withdrawal, termination, or other accounttransaction unless the court provides prior approval pursuant toa written order.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **CHAP0535** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+CHAP0535)
2. **Prefiled and ordered printed; offered 01/12/22 22100154D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB64)
3. **SB64ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB64ER)

## Votes

- Reported from Courts of Justice (20-Y 0-N) — **20–0** (pass) · lower
- Reported from Judiciary (14-Y 0-N) — **14–0** (pass) · upper
- Constitutional reading dispensed (37-Y 0-N) — **37–0** (pass) · upper
- Subcommittee recommends reporting (8-Y 0-N) — **8–0** (pass) · lower
- VOTE: Block Vote Passage (100-Y 0-N) — **99–0** (pass) · lower
- Read third time and passed Senate (40-Y 0-N) — **40–0** (pass) · upper

## Sponsors

- Scott A. Surovell — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2022-01-03** Prefiled and ordered printed; offered 01/12/22 22100154D `introduction`
- **2022-01-03** Referred to Committee on the Judiciary `referral-committee`
- **2022-01-16** Impact statement from DPB (SB64)
- **2022-01-19** Reported from Judiciary (14-Y 0-N) `committee-passage`
- **2022-01-21** Constitutional reading dispensed (37-Y 0-N)
- **2022-01-24** Read second time and engrossed `reading-2`
- **2022-01-25** Read third time and passed Senate (40-Y 0-N) `passage, reading-3`
- **2022-02-22** Placed on Calendar
- **2022-02-22** Read first time `reading-1`
- **2022-02-22** Referred to Committee for Courts of Justice `referral-committee`
- **2022-02-22** Assigned Courts sub: Subcommittee #2 `referral-committee`
- **2022-02-23** Subcommittee recommends reporting (8-Y 0-N)
- **2022-02-25** Reported from Courts of Justice (20-Y 0-N) `committee-passage`
- **2022-02-28** Read second time `reading-2`
- **2022-03-01** Read third time `reading-3`
- **2022-03-01** Passed House BLOCK VOTE (100-Y 0-N) `passage`
- **2022-03-01** VOTE: Block Vote Passage (100-Y 0-N)
- **2022-03-03** Enrolled
- **2022-03-03** Signed by Speaker
- **2022-03-04** Impact statement from DPB (SB64ER)
- **2022-03-04** Signed by President
- **2022-03-11** Enrolled Bill Communicated to Governor on March 11, 2022
- **2022-03-11** Governor's Action Deadline 11:59 p.m., April 11, 2022
- **2022-04-11** Approved by Governor-Chapter 535 (effective 7/1/22) `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/dd09245b-1034-4640-8e4d-5ec62d21a3c1`. Confidence: reported (aggregated from official Virginia legislature records).