Source: https://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB1243
Timestamp: 2018-05-20 15:33:22
Document Index: 786863115

Matched Legal Cases: ['§ 22', '§ 22', '§ 15', '§ 22', '§ 2', '§ 22', '§ 22']

17102447D
SENATE BILL NO. 1243 Offered January 11, 2017 Prefiled January 10, 2017 A BILL to amend the Code of Virginia by adding in Chapter 13 of Title 22.1 an article numbered 2.1, consisting of sections numbered 22.1-222.1 through 22.1-222.5, relating to Parental Choice Education Savings Accounts. ---------- Patrons-- Dunnavant, Chase and Sturtevant ---------- Referred to Committee on Education and Health ----------
8. Submit to audits of the savings account as provided in subsection B of § 22.1-222.3.
F. The Department shall disburse retained savings for the following purposes and in the following order: (i) establishing policies, processes, and procedures for managing and administering savings accounts; (ii) managing and administering savings accounts, including Department expenditures and third-party expenditures to qualified financial institutions, auditors as specified in subsection B of § 22.1-222.3, and other organizations; and (iii) other public elementary and secondary school purposes for which the Department is authorized to disburse funds.
B. The Auditor of Public Accounts shall include in the specifications published pursuant to § 15.2-2511 for audits of all localities that contain a local school division a requirement that the independent certified public accountant who conducts the audit of the locality include in such audit tests of compliance with subdivisions C 4 and 5 of § 22.1-222.2. Any such adjustment to such specifications is exempt from the Administrative Process Act (§ 2.2-4000 et seq.).
C. Upon finding that a parent made a knowing misrepresentation relating to any education-related expense from a savings account for a qualified student set forth in subdivision C 5 of § 22.1-222.2 or otherwise materially breached the written savings account agreement, the resident school division may rescind the written agreement, reclaim the remaining moneys in the savings account, and declare such parent ineligible for renewal of the written savings account agreement. The parent may appeal such decision as provided in subsection D of § 22.1-222.2.
D. The resident school division may refer to the appropriate state agency for investigation any incident in which it finds evidence of fraudulent use of moneys in a savings account by a parent.
E. If any education-related expense from a savings account for a qualified student is determined to be invalid, the resident school division shall direct the qualified financial institution to withhold subsequent disbursements until the parent reimburses the expense that was determined to be invalid.