Virginia College Equity Foundation and Fund; established.
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SB 466 — Virginia College Equity Foundation and Fund; established.
Last action — Passed by indefinitely in Education and Health (15-Y 0-N)
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House of Delegates
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5To Executive
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6Enacted
This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Virginia College Savings Plan; Virginia CollegeEquity Foundation and Fund. Directs the Board of the VirginiaCollege Savings Plan to invest the surplus from the fund for prepaidtuition contracts, if any, in the Virginia College Equity Fund (theFund), established by the bill. The bill provides that financial management of the Fund is the responsibility of the Board of theVirginia College Savings Plan but authorizes the board of the VirginiaCollege Equity Foundation, also established by the bill, to managea scholarship program funded by the Fund. The bill establishes anindividual and corporate income tax subtraction for donations to the Fund. Under the bill, the programprovides scholarships to students at Virginia's nonlegacy publicuniversities. Scholarships are available only to students who attenda nonlegacy university, likely would have been denied admission toa public institution of higher education prior to 1900 based on admissioncriteria in effect at the time, meet the income requirements fora Pell Grant, and commit to working in Virginia for at least eightyears after graduation.
Bill Text
- Prefiled Prefiled and ordered printed; offered 01/12/22 22103703D Current pdf January 11, 2022
Action History
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Passed by indefinitely in Education and Health (15-Y 0-N)
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Assigned Education sub: Higher Education
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Referred to Committee on Education and Health
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Prefiled and ordered printed; offered 01/12/22 22103703D
Sponsors
- Scott A. Surovell · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 147 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (147)
147 members have not signed on to this bill.
Show all 147 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 15 | 0 | 0 | 0 |
| Total | 15 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (15)
| Member | Party | Vote |
|---|---|---|
| Barker, George L. | — | Yea |
| Cosgrove, John A., Jr. | — | Yea |
| David R. Suetterlein | — | Yea |
| Dunnavant, Siobhan S. | — | Yea |
| Edwards, John S. | — | Yea |
| Hashmi, Ghazala F. | — | Yea |
| Howell, Janet D. | — | Yea |
| L. Louise Lucas | — | Yea |
| Lewis, Lynwood W., Jr. | — | Yea |
| Mamie E. Locke | — | Yea |
| Mark J. Peake | — | Yea |
| Newman, Stephen D. | — | Yea |
| Petersen, J. Chapman | — | Yea |
| Saslaw, Richard L. | — | Yea |
| Todd E. Pillion | — | Yea |
Subjects
Frequently asked questions
- What does SB 466 do?
- Virginia College Savings Plan; Virginia CollegeEquity Foundation and Fund. Directs the Board of the VirginiaCollege Savings Plan to invest the surplus from the fund for prepaidtuition contracts, if any, in the Virginia College Equity Fund (theFund), established by the bill. The bill provides that financial management of the Fund is the responsibility of the Board of theVirginia College Savings Plan but authorizes the board of the VirginiaCollege Equity Foundation, also established by the bill, to managea scholarship program funded by the Fund. The bill establishes anindividual and corporate income tax subtraction for donations to the Fund. Under the bill, the programprovides scholarships to students at Virginia's nonlegacy publicuniversities. Scholarships are available only to students who attenda nonlegacy university, likely would have been denied admission toa public institution of higher education prior to 1900 based on admissioncriteria in effect at the time, meet the income requirements fora Pell Grant, and commit to working in Virginia for at least eightyears after graduation.
- Who sponsors SB 466?
- SB 466 is sponsored by Scott A. Surovell.
- What is the current status of SB 466?
- This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SB 466?
- Track SB 466 free on One Click Politics — get push/email alerts when it moves.
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