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2016 Session

Budget Amendments - HB30 (Conference Report)

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SCHEV - Undergraduate Financial Aid Reform

Item 144 #1c

Item 144 #1c

First Year - FY2017 Second Year - FY2018
Education: Higher Education
State Council of Higher Education for Virginia FY2017 $0 FY2018 $24,098,663 GF

Language
Page 145, line 48, strike "$73,287,665" and insert "$97,386,328".

Page 148, after line 50, insert:

"I.  Out of this appropriation, $24,098,663 the second year from the general fund is designated for need-based in-state undergraduate financial aid.  Based on the recommendations of the Joint Subcommittee on the Future Competitiveness of Virginia Higher Education, the State Council of Higher Education for Virginia will allocate these funds to each institution in fiscal year 2018.".



Explanation

(This amendment provides for additional in-state undergraduate financial aid that will be allocated based on the financial aid reform recommendations of the Joint Subcommittee on the Future Competitiveness of Virginia Higher Education.)