2014 Special Session I

Budget Amendments - SB5003 (Committee Approved)

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HE - Update student financial aid language in general provisions (language only)

Item 4-5.01 #1s

Item 4-5.01 #1s

Special Conditions and Restrictions on Expenditures
Transactions with Individuals

Page 474, line 48, after "graduate students;" insert:
"graduate assistantships;".
Page 474, line 50, after "work study programs." insert:
"The institution is required to transfer to educational and general appropriations all funds used for work study or to pay graduate assistantships."
Page 474, line 52, after "its" insert "general fund".
Page 475, line 4, after "independently." insert:
"No limitations shall be placed on the awarding of nongeneral fund appropriations made in this act to state institutions of higher education within the Items for student financial assistance other than those found previously in this paragraph and as follows: (i) funds derived from in-state student tuition will not subsidize out-of-state students, (ii) students receiving these funds must be making satisfactory academic progress, (iii) awards made to students should be based primarily on financial need, and (iv) institutions should make larger grant and scholarship awards to students taking the number of credit hours necessary to complete a degree in a timely manner."
Page 475, line 9, strike "other than as specified in".
Page 475, line 10, strike "Item 206 J of this act".
Page 475, line 26, after "act," insert "general fund".
Page 476, strike lines 3 and 4.
Page 476, line 5, strike "c" and insert "b".
Page 476, line 7, strike "d" and insert "c".

(This amendment updates language regarding student financial assistance, consistent with the recommendations of the State Council of Higher Education for Virginia.)