2012 Session

Budget Amendments - SB30 (Committee Approved)

HE - Amend Funding Language (language only)

Item 4-10.01 #1s

Item 4-10.01 #1s

Higher Education Funding
Implementing Virginia Higher Education Opportunity Act of 2011

Page 450, strike lines 11-47.
Page 450, after line 10, insert:
Consistent with the provisions of the Virginia Higher Education Opportunity Act of 2011 (TJ21), each institution of higher education shall receive an amount per student associated with enrollment growth of Virginians.  The difference in enrollment between the two most recent years for which there is final actual enrollment data shall be used to calculate enrollment growth.
1. General fund support will be allocated toward achieving the goals and objectives of TJ21.  This funding may include allocations in base operations support, financial aid, incentive funding, research activities, and other initiatives.
2. For financial aid funding, the intent is to enhance affordability for both low-income and middle-income students and their families.  Financial aid funding shall be spread among the institutions of higher education based on the State Council of Higher Education for Virginia’s Partnership Model.  For purposes of this funding, the Advisory Committee recommended the use of the federal percent-of-poverty index to define income bands for use in defining low and middle income families.  Low income would fall below 200 percent and middle income would be in the range of 200 to 400 percent.  Institutions shall report annually on their implementation of this policy via the six-year planning process established under TJ21.
3. For research activities and other initiatives, funding may be directed towards efforts identified by institutions of higher education in their six-year plans that best meet the goals and objectives of the TJ21 legislation.
4. Pursuant to TJ21 and its provisions promoting partnership between public and private institutions in the achievement of stated policy goals, the Commonwealth’s higher education investment strategy and funding policy may include the provision of financial incentives to private non-profit institutions of higher education where such incentives will support the goals of economic growth, reform-based investment and affordable access specified in TJ21.  The Secretary of Education shall consult with the Attorney General and the Secretary of Finance to identify appropriate methods for the provision of such incentives and may make recommendations to the Higher Education Advisory Committee related thereto on or before October 1, 2012."
Page 451, strike lines 1-24.

(This amendment modifies the new higher education funding section as it was included in the introduced budget.)