Virginia Senate Bill 120 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 24 2014 - 100% progression
Action: 2014-03-24 - Governor: Acts of Assembly Chapter text (CHAP0296)
Text: Latest bill text (Chaptered) [HTML]

Benefits consortium; exemption and exclusions. Exempts a benefits consortium and the benefits consortium's sponsoring association from the Commonwealth's insurance laws and regulations, including those otherwise applicable to multiple employer welfare arrangements, and from the premium tax levied on insurance companies. A benefits consortium will be permitted to provide medical, prescription drug, dental, and vision benefits to employees of the sponsoring association and its members and the dependents of those employees through benefits plans. A benefits consortium is a trust that satisfies certain conditions, including (i) being subject to federal regulations applicable to multiple employer welfare arrangements and the enforcement authority of the U.S. Department of Labor; (ii) filing forms for the applicable plan year with the U.S. Department of Labor identifying the arrangement among the trust, sponsoring association, and benefit plans offered through the trust as a multiple employer welfare arrangement; (iii) operating as a nonprofit voluntary employee beneficiary association within the meaning of § 501(c)(9) of the Internal Revenue Code; (iv) providing that the trust's funds are to be used for the benefit of the participating employees, and their dependents, through insurance, self-insurance, or a combination thereof; (v) establishing and maintaining reserves determined in accordance with sound actuarial principles; (vi) purchasing and maintaining policies of specific, aggregate, and terminal excess insurance with retention levels determined in accordance with sound actuarial principles; and (vii) securing guarantees or standby letters of credit guaranteeing the payment of claims. The bill has a delayed effective date of January 1, 2015, and is identical to

Benefits consortium; exemption and exclusions.

Sen. John Watkins [R]

2014-02-24 - House - House: VOTE: PASSAGE (97-Y 2-N) (Y: 99 N: 2 NV: 0 Abs: 0) [PASS]
2014-02-18 - House - House: Reported from Commerce and Labor (20-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2014-02-07 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-05 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-03 - Senate - Senate: Reported from Commerce and Labor with substitute (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2014-03-24		Governor: Acts of Assembly Chapter text (CHAP0296)
2014-03-24		Governor: Approved by Governor-Chapter 296 (effective 1/1/15)
2014-02-28	Senate	Signed by President
2014-02-26	House	Signed by Speaker
2014-02-26	Senate	Bill text as passed Senate and House (SB120ER)
2014-02-26	Senate	Enrolled
2014-02-24	House	VOTE: PASSAGE (97-Y 2-N)
2014-02-24	House	Passed House (97-Y 2-N)
2014-02-24	House	Read third time
2014-02-21	House	Passed by for the day
2014-02-20	House	Read second time
2014-02-18	House	Reported from Commerce and Labor (20-Y 1-N)
2014-02-12	House	Referred to Committee on Commerce and Labor
2014-02-12	House	Read first time
2014-02-12	House	Placed on Calendar
2014-02-07	Senate	Read third time and passed Senate (40-Y 0-N)
2014-02-06	Senate	Engrossed by Senate - committee substitute SB120S1
2014-02-06	Senate	Committee substitute agreed to 14104426D-S1
2014-02-06	Senate	Reading of substitute waived
2014-02-06	Senate	Read second time
2014-02-05	Senate	Constitutional reading dispensed (40-Y 0-N)
2014-02-03	Senate	Committee substitute printed 14104426D-S1
2014-02-03	Senate	Reported from Commerce and Labor with substitute (16-Y 0-N)
2013-12-30	Senate	Referred to Committee on Commerce and Labor
2013-12-30	Senate	Prefiled and ordered printed; offered 01/08/14 14103032D

Chapter	Article	Section	Citation Type	Statute Text
6	2	951	(n/a)	See Bill Text
6	2	952	(n/a)	See Bill Text
6	2	953	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+SB120
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB120+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB120S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB120ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+CHAP0296+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+S02V0040+SB0120
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0285SB0120+SB0120
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0305SB0120+SB0120
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+H14V0124+SB0120
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+HV0964+SB0120