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2020 Special Session I

Budget Amendments - HB5005 (Committee Approved)

Maintain Affordable Access

Item 262.80 #1h

Item 262.80 #1h

First Year - FY2021 Second Year - FY2022
Education
Maintain Affordable Access FY2021 $80,000,000 FY2022 $0 GF

Language
Page 98, after line 25, insert:

"262.80 Education and General Program (10000)$80,000,000$0
Fund Sources:  General $80,000,000 $0 "

Page 98, after line 25, insert:

"Authority: Discretionary Inclusion

A. Out of this appropriation, $80,000,000 the first year from the general fund is designated to maintain affordable access to public colleges and universities.  Allocations from this item are as follows:                                                          

Institution

FY 2021 Allocation

Christopher Newport University

$2,400,000

College of William and Mary

3,500,000

George Mason University

10,000,000

James Madison University

5,700,000

Longwood University

1,500,000

University of Mary Washington

3,300,000

Norfolk State University

2,000,000

Old Dominion University

10,000,000

Radford University

4,900,000

University of Virginia

3,000,000

University of Virginia's College at Wise

1,000,000

Virginia Commonwealth University

10,000,000

Virginia Military Institute

1,000,000

Virginia Polytechnic Institute & State University

4,000,000

Virginia State University

1,700,000

Richard Bland College

1,000,000

Virginia Community College System

15,000,000

Total

$80,000,000

B. Institutions may use these funds to support operations, enhance financial aid, or for other purposes to address the impact of the COVID-19 pandemic.

C. Upon the petition of a public institution of higher education and upon a determination by the six-year plan review group identified under § 23.1-306, Code of Virginia that the institution is likely to experience a severe financial exigency prior to the next scheduled session of the General  Assembly, the Governor may authorize the Treasurer to provide bridge financing to such institution from the reserve established under § 2.2-1831.2, Code of Virginia, subject to such terms and conditions as the review group may  recommend and the Governor may approve."



Explanation

(This amendment provides general funds to support public colleges and universities to maintain affordable access to the institutions.)