HB 2026 Liquidation and sale of student assistance authority assets.
Vincent F. Callahan, Jr. | all patrons    ...    notes
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Summary:
Liquidation and sale of student assistance authority assets. Directs the Virginia Education Loan Authority (VELA) to liquidate its assets. The executive director is to report periodically to the Governor and the General Assembly regarding the status of the liquidation. An emergency clause makes this measure effective upon final passage.

The State Education Assistance Authority (SEAA) and VELA were consolidated in 1992, creating the Virginia Student Assistance Authorities (VSAA). Although designated jointly as the VSAA and sharing a common 10-member board, the two authorities nonetheless remained separate political subdivisions. The organizations were preserved to operate in their respective roles: the SEAA as guarantor and the VELA as lender, obviating the need for renewed federal approval to perform these functions. Each authority maintained its own assets, liabilities, and trust funds. This measure is identical to SB 995.

Full text:
01/23/95  House: Presented & ordered printed LD1166809  pdf
02/01/95  House: Committee substitute printed LD3683124-H1  pdf
02/13/95  House: Bill text as passed House and Senate (HB2026ER)  pdf
03/22/95  Governor: Acts of Assembly Chapter text (CHAP0384)  pdf

Status:
01/23/95  House: Presented & ordered printed LD1166809
01/23/95  House: Referred to Committee on Education
01/27/95  House: Assigned to Education sub-committee: 4
01/30/95  House: Reported from Education with substitute (19-Y 0-N)
01/30/95  House: Referred to Committee on Appropriations
02/01/95  House: Reported from Appropriations with sub. (16-Y 2-N)
02/01/95  House: Committee substitute printed LD3683124-H1
02/02/95  House: Read first time
02/03/95  House: Read second time
02/03/95  House: Committee substitute agreed to LD3683124-H1
02/03/95  House: Emergency clause added
02/03/95  House: Engrossed by House - com. sub. LD3683124-H1
02/04/95  House: Read third time and passed House (81-Y 19-N)
02/04/95  House: VOTE: PASSAGE EMERGENCY (81-Y 19-N)
02/04/95  House: Communicated to Senate
02/06/95  Senate: Read first time
02/06/95  Senate: Referred to Committee on Finance
02/08/95  Senate: Reported from Finance (15-Y 0-N)
02/09/95  Senate: Constitutional reading dispensed (39-Y 0-N)
02/09/95  Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
02/10/95  Senate: Read third time
02/10/95  Senate: Passed Senate (40-Y 0-N)
02/10/95  Senate: VOTE: PASSAGE (40-Y 0-N)
02/13/95  House: Bill text as passed House and Senate (HB2026ER)
02/20/95  House: Enrolled
02/20/95  House: Signed by Speaker
02/21/95  Senate: Signed by President
03/18/95  Governor: Approved by Governor-Chapter 384 (effective 3/18/95)
03/22/95  Governor: Acts of Assembly Chapter text (CHAP0384)