VA SB64 | 2022 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 11 2022 - 100% progression
Action: 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0535)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 11 2022 - 100% progression
Action: 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0535)
Text: Latest bill text (Chaptered) [HTML]
Summary
Proceeds of compromise agreements; minors; investment in college savings trust accounts. Permits a court to direct the payment of the proceeds of an approved compromise agreement, in the case of damage to the person or property of a minor, by investment in a college savings trust account for which the minor is the beneficiary pursuant to a college savings trust agreement with the Virginia College Savings Plan, provided that (i) the investment options pursuant to such agreement are restricted to target enrollment portfolios; (ii) the order or decree approving and confirming the compromise requires the minor beneficiary's parent, as that term is defined in relevant law, to act as the custodian of the account; and (iii) except in the case of a distribution from the account to be applied toward the minor beneficiary's qualified higher education expenses, as that term is defined in relevant federal law, the order or decree approving and confirming the compromise prohibits the minor beneficiary's parent from making any transfer, withdrawal, termination, or other account transaction unless the court provides prior approval pursuant to a written order.
Title
Proceeds of compromise agreements; investment in college savings trust accounts for minors.
Sponsors
Roll Calls
2022-03-01 - House - House: VOTE: Block Vote Passage (100-Y 0-N) (Y: 100 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-25 - House - House: Reported from Courts of Justice (20-Y 0-N) (Y: 20 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-23 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-25 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-21 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 0 Abs: 3) [PASS]
2022-01-19 - Senate - Senate: Reported from Judiciary (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-25 - House - House: Reported from Courts of Justice (20-Y 0-N) (Y: 20 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-23 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-25 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-21 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 0 Abs: 3) [PASS]
2022-01-19 - Senate - Senate: Reported from Judiciary (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-04-11 | Governor: Acts of Assembly Chapter text (CHAP0535) | |
| 2022-04-11 | Governor: Approved by Governor-Chapter 535 (effective 7/1/22) | |
| 2022-03-11 | Governor: Governor's Action Deadline 11:59 p.m., April 11, 2022 | |
| 2022-03-11 | Senate | Enrolled Bill Communicated to Governor on March 11, 2022 |
| 2022-03-04 | Senate | Signed by President |
| 2022-03-03 | House | Signed by Speaker |
| 2022-03-03 | Senate | Bill text as passed Senate and House (SB64ER) |
| 2022-03-03 | Senate | Enrolled |
| 2022-03-01 | House | VOTE: Block Vote Passage (100-Y 0-N) |
| 2022-03-01 | House | Passed House BLOCK VOTE (100-Y 0-N) |
| 2022-03-01 | House | Read third time |
| 2022-02-28 | House | Read second time |
| 2022-02-25 | House | Reported from Courts of Justice (20-Y 0-N) |
| 2022-02-23 | House | Subcommittee recommends reporting (8-Y 0-N) |
| 2022-02-22 | House | Assigned Courts sub: Subcommittee #2 |
| 2022-02-22 | House | Referred to Committee for Courts of Justice |
| 2022-02-22 | House | Read first time |
| 2022-02-22 | House | Placed on Calendar |
| 2022-01-25 | Senate | Read third time and passed Senate (40-Y 0-N) |
| 2022-01-24 | Senate | Read second time and engrossed |
| 2022-01-21 | Senate | Constitutional reading dispensed (37-Y 0-N) |
| 2022-01-19 | Senate | Reported from Judiciary (14-Y 0-N) |
| 2022-01-03 | Senate | Referred to Committee on the Judiciary |
| 2022-01-03 | Senate | Prefiled and ordered printed; offered 01/12/22 22100154D |
