2014 Special Session I

Budget Amendments - SB5003 (Committee Approved)

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VCCS - Fund Certification Incentive

Item 213 #3s

Item 213 #3s

First Year - FY2015 Second Year - FY2016
Education: Higher Education
Virginia Community College System FY2015 $1,000,000 FY2016 $1,000,000 GF

Page 180, line 47, strike "$77,669,596" and insert "$78,669,596".
Page 180, line 47, strike "$77,489,596" and insert "$78,489,596".
Page 182, after line 38, insert:
“M.  Out of this appropriation, $1,000,000 the first year and $1,000,000 the second year from the general fund is designated to provide a $1,000 incentive payment to a Virginia community college for each student who (i) has successfully completed a noncredit workforce training program through the community college and (ii) subsequently obtains an industry-recognized certification or license in a high employer demand field in the region served by the community college, with such certifications and licenses to be approved by the State Board for Community Colleges. Incentive payments will be made from a nonreverting fund to be established on the books of the Comptroller. Any moneys remaining in the fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the fund. The State Board for Community Colleges shall establish general requirements for applying and qualifying for incentive payments. Expenditures and disbursements from the fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Chancellor of Community Colleges. A maximum of 1,000 incentive payments will be made to Virginia community colleges.”

(This amendment provides $1.0 million GF in each year for a certification incentive program.)