Language Page 381, after line 13, insert:Out of this appropriation, $80,000,000 the first year and $160,000,000 the second year from the general fund is provided to begin a four-year phase-in of the base budget requests of public higher education institutions. In addition, $120,000,000 the second year from the general fund is provided to raise faculty salaries to the 60th percentile by the end of fiscal year 2008. The Director, Department of Planning and Budget, shall distribute these funds to higher education institutions consistent with the recommendations 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."
Explanation(This amendment would provide additional base budget support and faculty salary increases for public higher education institutions.)