2002 Session

Budget Amendments - SB30 (Committee Approved)

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Part IV Establish Capital Construction Fee (language only)

Item 4-2.01 #2s

Item 4-2.01 #2s

Nongeneral Fund Revenues

Page 429, after line 42 insert:
"10. In the development of tuition and fee rates for FY 2003 and FY 2004, the Boards of Visitors shall implement a Capital Construction Fee of 50 cents per credit hour at the Virginia Community College System and Richard Bland College, and a fee of $1.00 per credit hour at the four-year institutions of higher education.  The fee shall be used to defray a portion of the cost of the debt service for the Building Virginia's Future Capital Program."

(This amendment establishes a Capital Construction fee to be used to defray a portion of a the cost of debt service associated with the Building Virginia's Future capital program. A companion amendment to Item 496 directs the transfer of the fee revenue from the institutions of higher education to the Treasury Board.)