# Virginia SB835: Virginia College Opportunity Endowment and Fund; established, report.

Virginia SB835, Virginia College Opportunity Endowment and Fund; established, report., is a 2025 Regular Session Senate bill sponsored by Scott A. Surovell (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-SB835-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB835
- State: Virginia
- Session: 2025 Regular Session
- Title: Virginia College Opportunity Endowment and Fund; established, report.
- Status: failed
- Chamber: Senate
- Introduced: 2025-01-01
- Last action: 2025-02-05, Left in Finance and Appropriations
- Sponsor: Scott A. Surovell (Democratic)
- Cosponsors: 0
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Commonwealth Savers Plan; Virginia College Opportunity Endowment and Fund established; report. Establishes (i) the Endowment Scholarship Program for the purpose of providing scholarships to students at eligible institutions, as defined in the bill; (ii) the Virginia College Opportunity Endowment as an agency of the Commonwealth for the purpose of establishing and administering the Endowment Scholarship Program; (iii) as a subfund of the Commonwealth Savers Plan's fund, the DB529 Fund for the purpose of holding in trust the assets of prepaid tuition contracts to meet contractual obligations; (iv) as a subfund of the Commonwealth Savers Plan's fund, the Virginia College Opportunity Fund (the Opportunity Fund), into which certain funds from the DB529 Fund shall be deposited for the purpose of funding, by income generated from investments of such deposits, the Endowment Scholarship Program and other programs established for the purpose of enhancing educational access and affordability for students with recognized financial need, as set forth in the bill; and (v) the College Opportunity Investment Advisory Committee for the purpose of making recommendations to and assisting the General Assembly in determining the prudence of directing deposits, and the amounts of any such deposits, of actuarial surpluses of the Commonwealth Savers Plan from the DB529 Fund into the Opportunity Fund. The bill requires the board of the Commonwealth Savers Plan to (a) after the fiscal year beginning on July 1, 2025, deposit $500 million into the Opportunity Fund from the DB529 Fund; (b) each fiscal year thereafter, in accordance with the timeline set forth in the bill, submit to the General Assembly a report on the funded status, as defined by applicable law, of the DB529 Fund and the recommendation of the College Opportunity Investment Advisory Committee as to the prudence of directing deposits of additional actuarial surpluses of the Plan from the DB529 Fund into the Opportunity Fund; and (c) each subsequent year, deposit additional actuarial surpluses into the Opportunity Fund in accordance with the provisions of the bill. Finally, the bill contains provisions (1) relating to voluntary contributions to the Opportunity Fund for the purpose of receiving tax fund contributions and income tax deductions; (2) exempting from mandatory disclosure requirements certain information contained in a public record relating to the Commonwealth Savers Plan or the Virginia College Opportunity Endowment and Fund, and (3) authorizing the College Opportunity Investment Advisory Committee to hold closed meetings for certain purposes.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Scott A. Surovell (Democratic), Senate

## Actions (4)

- 2025-02-05: Left in Finance and Appropriations (Senate)
- 2025-01-21: Fiscal Impact Statement from Department of Planning and Budget (SB835) (Senate)
- 2025-01-01: Referred to Committee on Finance and Appropriations (Senate)
- 2025-01-01: Prefiled and ordered printed; Offered 01-08-2025 25102163D (Senate)

## Bill text

- Introduced, 2025-01-01: [HTML](https://lis.blob.core.windows.net/files/1012168.HTML), [PDF](https://lis.blob.core.windows.net/files/1012167.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/1012168.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1012167.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-SB835-2025 (as of 2026-10-17).