2022 Session

Budget Amendments - HB30 (Committee Approved)

Advanced Manufacturing Talent Investment Program

Item 487.10 #1h

Item 487.10 #1h

First Year - FY2023 Second Year - FY2024
Central Appropriations
Central Appropriations FY2023 $2,500,000 FY2024 $0 GF

Page 512, after line 53, insert:

"487.10 Advanced Manufacturing Talent Investment Program$2,500,000$0
Fund Sources:  General $2,500,000 $0 "

Page 512, after line 53, insert:

"Out of this appropriation, $2,500,000 the first year from the general fund is designated for the Advanced Manufacturing Talent Investment Fund. These funds shall be allocated in accordance with provisions established in § 23.1-1244 through § 23.1-1248, Code of Virginia, and shall be used to support the efforts of qualified institutions to increase by fiscal year 2042 the number of new eligible credentials by at least 25,000 more credentials than the number of such credentials awarded in 2021. Moneys in the Fund shall be used to support this effort and to improve the readiness of graduates to be employed in advanced manufacturing fields and fields that align with advanced manufacturing growth opportunities identified by the Virginia Economic Development Partnership. Funds may be used to support admissions and advising programs designed to convey labor market information to students to guide decisions to enroll in eligible credential programs and academic programs and to fund facility construction, renovation, and enhancement and equipment purchases related to the initiative to increase the number of eligible credentials awarded.

B. Prior to an allocation from the Fund, institutions must enter into a Memorandum of Understanding (MOU) through a negotiation process between the institution and the Commonwealth.  Each memorandum of understanding shall contain criteria for eligible credentials, eligible expenses, and credential production goals for the institution to reach by 2042. Such criteria and requirements shall include:

1. The submission of an enrollment plan by the qualified institution detailing the number of eligible credentials produced between July 1, 2016, and June 30, 2021;

2. A detailed plan of (i) how the qualified institution proposes to materially increase the enrollment, retention, and completion of students pursuing eligible credentials, (ii) the resources necessary to accomplish such increase in enrollment, retention, and completion, and (iii) how the qualified institution plans to track new enrollment;

3. An accounting of the anticipated number of students enrolling in eligible credential programs;

4. The existing capacity of current eligible credential programs, and an estimate of the amount of funding necessary to grow the qualified institution's enrollment capacity pursuant to the plan submitted pursuant to subdivision 2;

5. Where applicable, proposed plans to partner with other qualified institutions to provide courses or programs that will lead to the completion of an eligible credential;

6. A proposed reallocation of existing funds held by or appropriated to the qualified institution to meet increased enrollment, retention, and completion goals in eligible credential programs; and

7. Any other information deemed relevant.

C. Failure of an institution to meet the goals, metrics, and requirements set forth in its memorandum of understanding shall result in the adjustment of any future allocations from the Fund to the institution to reflect such discrepancy."


(This amendment provides funding for the Advanced Manufacturing Talent Investment Program.)