HB 1986 Higher Education Tuition Trust Fund.
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Virginia Higher Education Tuition Trust Fund. Authorizes the establishment of the eight-member Virginia Higher Education Tuition Trust Fund Board, consisting of state education and financial officials and gubernatorial citizen appointees on and after July 1, 1995, to prepare for the implementation of the Tuition Trust Fund prepayment program approved by the 1994 General Assembly (HB 993) for creation in 1996. The Secretary of Finance is required to obtain either (i) a no-action letter or an opinion from the Securities and Exchange Commission in connection with the application of federal securities laws to the Fund or (ii) an opinion of independent legal counsel substantially to the effect that the proposed method of structuring and offering the Fund is in compliance with federal securities laws. Finally, language is added to cap tuition prepayments for public, out-of-state institutions and private institutions in Virginia.

Full text:
01/20/95  House: Presented & ordered printed LD2048358  pdf
02/02/95  House: Committee substitute printed LD3687124-H1  pdf
02/28/95  House: Bill text as passed House and Senate (HB1986ER)  pdf
03/22/95  Governor: Acts of Assembly Chapter text (CHAP0315)  pdf

Senate amendments

01/20/95  House: Presented & ordered printed LD2048358
01/20/95  House: Referred to Committee on Appropriations
02/02/95  House: Reported from Appropriations with sub. (19-Y 0-N)
02/02/95  House: Committee substitute printed LD3687124-H1
02/03/95  House: Read first time
02/04/95  House: Read second time
02/04/95  House: Committee substitute agreed to LD3687124-H1
02/04/95  House: Engrossed by House - com. sub. LD3687124-H1
02/05/95  House: Read third time and passed House (Block Vote) (99-Y 0-N)
02/05/95  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
02/05/95  House: Communicated to Senate
02/06/95  Senate: Read first time
02/06/95  Senate: Referred to Committee on Finance
02/15/95  Senate: Reported from Finance with amendment (14-Y 0-N)
02/16/95  Senate: Constitutional reading dispensed (38-Y 0-N)
02/16/95  Senate: VOTE: CONST. READING DISPENSED (38-Y 0-N)
02/17/95  Senate: Read third time
02/17/95  Senate: Reading of amendment waived
02/17/95  Senate: Committee amendment agreed to
02/17/95  Senate: Reading of amendment waived
02/17/95  Senate: Floor amendment agreed to (Andrews)
02/17/95  Senate: Engrossed by Senate as amended
02/17/95  Senate: Passed Senate with amendments (39-Y 0-N)
02/17/95  Senate: VOTE: PASSAGE (39-Y 0-N)
02/20/95  House: Placed on Calendar
02/21/95  House: Senate amendments agreed to by House (100-Y 0-N)
02/21/95  House: VOTE: ADOPTION (100-Y 0-N)
02/28/95  House: Bill text as passed House and Senate (HB1986ER)
03/06/95  House: Enrolled
03/06/95  Senate: Signed by President
03/07/95  House: Signed by Speaker
03/16/95  Governor: Approved by Governor-Chapter 315 (effective 7/1/95)
03/22/95  Governor: Acts of Assembly Chapter text (CHAP0315)