2007 Session

Budget Amendments - HB1650 (Conference Report)

Tuition Incentive Fund

Item 463.10 #1c

Item 463.10 #1c

First Year - FY2007 Second Year - FY2008
Central Appropriations
Central Appropriations FY2007 $0 FY2008 $7,175,000 GF

Page 506, after line 7, insert:
"A.  Out of this appropriation, $7,175,000 from the general fund the second year is provided to create the Higher Education Tuition Incentive Fund with potential allocations to public colleges and universities as follows:
Institution Amount
Christopher Newport University $101,512
College of William and Mary 185,879
George Mason University 614,746
James Madison University 784,186
Longwood University 72,597
University of Mary Washington 120,363
Norfolk State University 72,597
Old Dominion University 259,591
Radford University 670,333
University of Virginia 409,113
University of Virginia at Wise 72,597
Virginia Commonwealth University 1,041,949
Virginia Military Institute 131,281
Virginia Polytechnic Institute & State University 1,295,297
Virginia State University 289,779
Richard Bland College 49,376
Virginia Community College System 1,003,804
Total $7,175,000
B. Allocations listed in subparagraph A. of this item shall be granted to public colleges and universities that limit the increase of tuition and mandatory E & G fees for in-state undergraduate students to not more than six percent for the 2007-2008 academic year.
C. The State Council of Higher Education for Virginia (SCHEV) shall determine whether each public college and university has met the tuition requirements of this fund.  SCHEV shall report its findings to the Governor, the Chairmen of the Senate Finance and House Appropriations Committees and the Director of the Department of Planning and Budget by August 15, 2007.
D. Upon certification by SCHEV that the requirements in subparagraph B. have been met, the Director, Department of Planning and Budget shall transfer the amounts listed above to each of the certified institution.
E. Any funds in paragraph A. not allocated pursuant to the requirements of paragraphs B. and C.  shall revert to the Literary Fund."

(This amendment is self-explanatory.)