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2016 Session

Budget Bill - SB30 (Introduced)

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Virginia College Savings Plan

Item 488

Item 488

First Year - FY2017Second Year - FY2018
Administrative and Support Services (79900)$25,593,353$24,359,984
General Management and Direction (79901)FY2017 $10,805,401FY2018 $11,083,552
Investment, Trust and Related Services for Virginia529 prePAID Program (79950)FY2017 $5,873,959FY2018 $5,903,259
Trust and Related Services for Virginia529 inVEST Program and other Hgher Education Savings Programs (79951)FY2017 $6,086,155FY2018 $6,115,455
Investment, Trust and Related Services for Achieving a Better Life Experience (ABLE) Program (79952)FY2017 $2,827,838FY2018 $1,257,718
Fund Sources: 
EnterpriseFY2017 $25,593,353FY2018 $24,359,984

Authority: Title 23, Chapter 4.9, Code of Virginia.


A. Out of the amounts appropriated to this Item, $650,000 the first year and $650,000 the second year from nongeneral funds are designated for a comprehensive compensation plan to link pay to performance.


B. Amounts for Investment, Trust and Related Services cover variable or unpredictable costs of the Virginia529 prePAID Program, estimated at $5,873,959 the first year and $5,903,259 the second year, from nongeneral funds pursuant to § 23-38.76, Code of Virginia.


C. Amounts for Investment, Trust and Related Services cover variable and unpredictable costs of the Virginia529 inVEST Program and other higher education savings programs, estimated at $6,086,155 the first year and $6,115,455 the second year, from nongeneral funds pursuant to § 23-38.76, Code of Virginia.