Language Page 260, after line 8, insert: "255.20 In-State Undergraduate Tuition Moderation$55,000,000$55,000,000 Fund Sources: General $55,000,000 $55,000,000 "
Explanation
(This amendment requests funding to be granted to public colleges and universities in fiscal year 2023 and 2024 so long as they maintain for fiscal year 2023 all tuition and mandatory Educational and General (E & G) fee charges to include tuition differentials for in- state undergraduate students to fiscal year 2022 levels. The State Council of Higher Education for Virginia (SCHEV) shall certify whether each public college and university has met the tuition freeze requirements of this fund. SCHEV shall report its findings to the Governor, the Chairs of the House Appropriations and Senate Finance and Appropriations Committees, and the Director of the Department of Planning and Budget. If an institution elects to increase tuition and mandatory E & G fees for in-state undergraduate students in fiscal year 2023 above the fiscal year 2022 levels, the institution shall not be eligible for an allocation from the pool. Their funds will be proportionally redistributed to the institutions that elect to maintain tuition at the 2022 level. This tuition moderation only applies to in-state tuition and mandatory E & G fees and does not govern what each institution may elect to charge for out-of-state tuition and fees.)