# Virginia SB1065: Commonwealth Savers Plan; Access Fund established, definitions, report.

Virginia SB1065, Commonwealth Savers Plan; Access Fund established, definitions, report., is a 2025 Regular Session Senate bill sponsored by Ghazala F. Hashmi (Democratic); status failed, last action 2025-02-05 (Left in Finance and Appropriations) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/VA-SB1065-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB1065
- State: Virginia
- Session: 2025 Regular Session
- Title: Commonwealth Savers Plan; Access Fund established, definitions, report.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-07
- Last action: 2025-02-05, Left in Finance and Appropriations
- Sponsor: Ghazala F. Hashmi (Democratic)
- Cosponsors: 0
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Commonwealth Savers Plan; Access Fund established; report. Establishes the Access Fund as a portion of the Fund of the Commonwealth Savers Plan (the Plan), to be managed by the governing board of the Plan (the board) as a part of the Fund but to be accounted for separately from the Fund, into which certain Fund moneys shall be allocated for the purpose of supporting the Plan's goal of enhancing the accessibility, attainability, and affordability of higher education for all citizens of the Commonwealth. The bill directs the board to (i) establish or identify and fund certain programs and partnerships to further the goal of enhancing the accessibility, attainability, and affordability of higher education for all citizens of the Commonwealth, including programs and partnerships that provide scholarships, grants, or mentoring and coaching services to certain identified demographics of students; (ii) use certain distributions from the Access Fund, in accordance with the investment objectives and total return spending policy described in the bill and the standard of care set forth in applicable law, to support such programs and partnerships; (iii) appoint an Access Advisory Committee for the purpose of assisting the board by making recommendations relating to any such programs and partnerships for which distributions from the Access Fund could be used; and (iv) submit to relevant committees of the General Assembly and the Joint Legislative Audit and Review Commission by December 1 of each year a report on the Plan's activities relating to the Access Fund for the preceding year. Finally, the bill directs the Audit and Actuarial Committee to, in addition to its other duties set forth in applicable law, assess and make recommendations to the board regarding the availability of Fund moneys for allocation to the Access Fund.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Ghazala F. Hashmi (Democratic), Senate

## Actions (4)

- 2025-02-05: Left in Finance and Appropriations (Senate)
- 2025-01-22: Fiscal Impact Statement from Department of Planning and Budget (SB1065) (Senate)
- 2025-01-07: Referred to Committee on Finance and Appropriations (Senate)
- 2025-01-07: Prefiled and ordered printed; Offered 01-08-2025 25104363D (Senate)

## Bill text

- Introduced, 2025-01-07: [HTML](https://lis.blob.core.windows.net/files/1017702.HTML), [PDF](https://lis.blob.core.windows.net/files/1017701.PDF)

## Related bills

- HR671: Commending JR's Auto Care. (adopted)
- SB941: Robbery; use of air or gas operated weapon, etc., penalty. (failed)
- HB1746: Public safety officer; definition. (failed)
- HB1600: Budget Bill. (failed)
- SB1449: Data centers; site assessment for high energy use facility. (failed)
- HB1609: Essential health benefits benchmark plan; Commission to consider coverage for infertility treatment. (to governor)

## Sources
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1017702.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1017701.PDF)

## Related
- [HR671: Commending JR's Auto Care.](https://policyrisk.com/state-bill/VA-HR671-2025)
- [SB941: Robbery; use of air or gas operated weapon, etc., penalty.](https://policyrisk.com/state-bill/VA-SB941-2025)
- [HB1746: Public safety officer; definition.](https://policyrisk.com/state-bill/VA-HB1746-2025)
- [HB1600: Budget Bill.](https://policyrisk.com/state-bill/VA-HB1600-2025)
- [SB1449: Data centers; site assessment for high energy use facility.](https://policyrisk.com/state-bill/VA-SB1449-2025)
- [HB1609: Essential health benefits benchmark plan; Commission to consider coverage for i…](https://policyrisk.com/state-bill/VA-HB1609-2025)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB1065-2025 (as of 2026-10-17).