2004 Session

Budget Amendments - HB30 (Member Request)

Chief Patron: Callahan
Student Financial Stabilization Fund

Item 508.10 #1h

Item 508.10 #1h

First Year - FY2005 Second Year - FY2006
Central Appropriations
Central Appropriations FY2005 $8,000,000 FY2006 $8,000,000 GF

Page 381, after line 13, insert:
Out of this appropriation, $8,000,000 is provided from the general fund in each year for need-based financial aid for Virginia resident undergraduate students.  The Director, Department of Planning and Budget, shall distribute these funds to higher education institutions consistent with the level of student need, as calculated by the State Council of Higher Education for Virginia.  The Director, Department of Planning and Budget, shall submit a report by July 15, 2004, to the Chairmen of the House Appropriations and Senate Finance Committees setting out the distribution of these funds."

(This amendment would provide additional financial aid to offset anticipated student need.)