2003 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Bryant
Co-Patron(s): Jones S.C.
SCHEV - Student Financial Aid

Item 164 #4h

Item 164 #4h

First Year - FY2003 Second Year - FY2004
Education: Higher Education
State Council of Higher Education for Virginia FY2003 $0 FY2004 $8,599,623 GF

Page 168, line 26, strike "$41,039,854" and insert "$49,639,477".
Page 170, after line 35, insert:
"G. Out of the appropriation in this item, $8,599,623 the second year is provided to improve access to, and affordability of, higher education through increased need-based financial aid for Virginia resident undergraduate students.  The funding shall be distributed to higher education institutions consistent with the needs of the students at those institutions.  The methodology shall include consideration of nongeneral fund amounts generated by institutions for financial aid from recent tuition actions.  The Director, State Council of Higher Education for Virginia, shall submit a report by July 15, 2003, to the Chairmen of the House Appropriations and Senate Finance Committees setting out the distribution of these funds."

(This amendment requests additional general fund for Student Financial Assistance to meet additional need resulting from recent tuition increases and increased tuition flexibility provided in companion amendments. A companion amendment in Item 512.25 provides the source of the general fund through reductions to public service centers.)