1998 Session

Budget Amendments - SB30 (Committee Approved)

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Higher Education Funding Policy (language only)

Item 1 #13s

Item 1 #13s

Legislative Department
General Assembly of Virginia

Page 5, after line 55, insert:
"E.  The Co-Chairmen of the House Appropriations and Senate Finance Committees shall each appoint four members from their respective committees to a joint subcommittee to review public higher education funding policies and to make recommendations to their respective committees prior to the 1999 Session of the General Assembly.  The objective of the review is to develop policies and formulas to provide the public institutions of higher education with an equitable funding methodology that: (a) recognizes differences in institutional mission; (b) provides incentives for achievement and productivity;  (c) recognizes enrollment growth; and (d) establishes funding objectives in areas such as faculty salaries, financial aid, and the appropriate share of Educational and General costs that should be borne by resident students.  In addition, the review shall include the development of comparable cost data concerning the delivery of higher education through an analysis of the relationship of each public institution to its national peers. The public institutions of higher education and the staff of the State Council of Higher Education for Virginia are directed to provide technical assistance, as required, to the joint subcommittee.".

(This amendment establishes a joint subcommittee to study higher education funding.)