217#1s (VMI) VMI - Redirect 50% of New Financial Aid Funding -. HB5002

State Budget

Item 217 #1s	First Year - FY2019	Second Year - FY2020
Education
Virginia Military Institute	FY2019 ($15,881)	FY2020 ($70,632)	GF

Language
Page 192, line 22, strike "$5,648,002" and insert "$5,632,121".
Page 192, line 22, strike "$5,757,503" and insert "$5,686,871".

Explanation

(This amendment redirects 50% of the new undergraduate financial aid funding.)

Item 217	First Year - FY2019	Second Year - FY2020
Higher Education Student Financial Assistance (10800)	$5,648,002	$5,757,503
Scholarships (10810)	FY2019 $5,648,002	FY2020 $5,757,503
Fund Sources:
General	FY2019 $1,048,002	FY2020 $1,157,503
Higher Education Operating	FY2019 $4,600,000	FY2020 $4,600,000

Authority: Title 23.1, Chapter 25, § 23.1-2506, Code of Virginia.

Out of the amounts for Scholarships and Loans, the institute shall provide for State Cadetships and for discretionary student aid.