2003 Session

Budget Amendments - HB1400 (Conference Report)

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Out-of-state student debt service

Item 296 #2c

Item 296 #2c

First Year - FY2003 Second Year - FY2004
Treasury Board FY2003 $0 FY2004 ($2,000,000) GF
FY2003 $0 FY2004 $2,000,000 NGF

Page 273, line 15, strike "278,419,540" and insert "276,419,540".
Page 273, line 17, strike "2,422,604" and insert "4,422,604".
Page 274, after line 52, insert:
"7.  Out of the amounts for Amortization Payments, the following nongeneral fund amounts from a capital fee charged to out-of-state students at institutions of higher education shall be paid to the Virginia College Building Authority in the second year for debt service on bonds issued under the 21st Century Program:
FY 2004
George Mason University
Old Dominion University
University of Virginia
Virginia Tech
Virginia Commonwealth University
College of William and Mary
Christopher Newport University
University of Virginia’s College at Wise
James Madison University
Norfolk State University
Longwood University
Mary Washington College
Radford University
Virginia Military Institute
Virginia State University
Richard Bland College
Virginia Community College System

(This amendment provides for the transfer of $2 million from nongeneral funds from institutions of higher education from a capital fee charged on out-of-state students for debt service costs on the recently approved capital bond package. The amounts are based on a $1.67 per credit fee on out-of-state students at four-year institutions and a $1.50 per credit fee on out-of-state students at two-year institutions.)