Fabio
102 lines
6.5 KiB
Markdown
102 lines
6.5 KiB
Markdown
---
|
||
type: "Bill"
|
||
title: "Virginia College Savings Plan; definitions, prepaid tuition contracts, pricing reserves."
|
||
description: "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 actuarially determined prepaid tuition contract price exceeds the amount estimated to meet the actuarially determined tuition obligation for 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."
|
||
jurisdiction: "us/states/va"
|
||
legislature: "Virginia General Assembly"
|
||
session: "2019"
|
||
identifier: "HB 1611"
|
||
citation: "Virginia HB 1611 (2019)"
|
||
classification: ["bill"]
|
||
subjects: []
|
||
status: "enacted"
|
||
primary_sponsors: ["R. Steven Landes"]
|
||
version_count: 4
|
||
action_count: 24
|
||
vote_count: 10
|
||
first_action: "2018-08-08"
|
||
last_action: "2019-03-25"
|
||
source: "openstates"
|
||
source_identifier: "ocd-bill/deeacc5a-3dfa-4c67-99df-20a2994c704b"
|
||
source_url: "http://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+HB1611"
|
||
source_hash: "1fe9482b27f83ee410d10e064eb1e240a937bc903c5f6a994dd8c43c0e6240f4"
|
||
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 HB 1611 (2019) — Virginia College Savings Plan; definitions, 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 actuarially determined prepaid tuition contract price exceeds the amount estimated to meet the actuarially determined tuition obligation for 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.
|
||
|
||
## Version chain
|
||
|
||
The bill's text revisions, in order — the diff chain from filing to enrollment.
|
||
|
||
1. **Governor: Acts of Assembly Chapter text (CHAP0806)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+CHAP0806)
|
||
2. **House: Bill text as passed House and Senate (HB1611ER)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB1611ER)
|
||
3. **House: Prefiled and ordered printed; offered 01/09/19 19100157D** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB1611)
|
||
4. **Senate: Committee substitute printed 19106832D-S1** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB1611S1)
|
||
|
||
## Votes
|
||
|
||
- Constitutional reading dispensed — **39–0** (pass) · upper
|
||
- Subcommittee recommends reporting — **8–0** (pass) · lower
|
||
- Reported from Appropriations — **22–0** (pass) · lower
|
||
- Reported from Finance with substitute — **14–0** (pass) · upper
|
||
- Reported from Education — **22–0** (pass) · lower
|
||
- Senate substitute agreed to by House 19106832D-S1 — **97–1** (pass) · lower
|
||
- Read third time and passed House — **94–5** (pass) · lower
|
||
- Passed Senate with substitute — **40–0** (pass) · upper
|
||
- Subcommittee recommends reporting — **8–0** (pass) · lower
|
||
- Rereferred from Education and Health — **15–0** (pass) · upper
|
||
|
||
## Sponsors
|
||
|
||
- R. Steven Landes — primary (person)
|
||
- Dave A. LaRock — cosponsor (person)
|
||
- David E. Yancey — cosponsor (person)
|
||
- Gordon C. Helsel, Jr. — cosponsor (person)
|
||
- Jason S. Miyares — cosponsor (person)
|
||
- Joseph P. McNamara — cosponsor (person)
|
||
- Kaye Kory — cosponsor (person)
|
||
- Robert M. "Bob" Thomas, Jr. — cosponsor (person)
|
||
- Roxann L. Robinson — cosponsor (person)
|
||
- Timothy D. Hugo — cosponsor (person)
|
||
|
||
## Timeline
|
||
|
||
The legislative action history — every referral, reading, and vote.
|
||
|
||
- **2018-08-08** Prefiled and ordered printed; offered 01/09/19 19100157D `introduction`
|
||
- **2018-08-08** Referred to Committee on Education `referral-committee`
|
||
- **2019-01-11** Assigned Education sub: Subcommittee #3 `referral-committee`
|
||
- **2019-01-14** Subcommittee recommends referring to Committee on Appropriations
|
||
- **2019-01-21** Referred to Committee on Appropriations `referral-committee`
|
||
- **2019-01-21** Assigned App. sub: Higher Education `referral-committee`
|
||
- **2019-02-01** Read first time `reading-1`
|
||
- **2019-02-04** Read second time and engrossed `reading-2`
|
||
- **2019-02-05** Read third time and passed House (94-Y 5-N) `passage, reading-3`
|
||
- **2019-02-06** Constitutional reading dispensed
|
||
- **2019-02-06** Referred to Committee on Education and Health `referral-committee`
|
||
- **2019-02-07** Rereferred to Finance `referral-committee`
|
||
- **2019-02-14** Read third time `reading-3`
|
||
- **2019-02-14** Reading of substitute waived
|
||
- **2019-02-14** Committee substitute agreed to 19106832D-S1
|
||
- **2019-02-14** Engrossed by Senate - committee substitute HB1611S1
|
||
- **2019-02-18** Placed on Calendar
|
||
- **2019-02-18** Senate substitute agreed to by House 19106832D-S1 (97-Y 1-N)
|
||
- **2019-02-21** Enrolled
|
||
- **2019-02-21** Signed by Speaker
|
||
- **2019-02-21** Signed by President
|
||
- **2019-02-28** Enrolled Bill communicated to Governor on February 28, 2019
|
||
- **2019-02-28** Governor's Action Deadline Midnight, March 26, 2019
|
||
- **2019-03-25** Approved by Governor-Chapter 806 (effective 7/1/19) `executive-signature`
|
||
|
||
## Source
|
||
|
||
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/deeacc5a-3dfa-4c67-99df-20a2994c704b`. Confidence: reported (aggregated from official Virginia legislature records).
|
||
|