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2024 Session

Budget Amendments - HB30 (Committee Approved)

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SCHEV - Financial Aid and Waiver Programs

Item 130 #3h

Item 130 #3h

First Year - FY2025 Second Year - FY2026
Education: Higher Education
State Council of Higher Education for Virginia FY2025 $4,750,000 FY2026 $44,250,000 GF

Language
Page 186, line 30, strike "$182,168,512" and insert "$186,918,512".
Page 186, line 30, strike "$145,968,512" and insert "$190,218,512".

Page 187, line 16, strike "$5,000" and insert "$5,250".

Page 187, line 17, strike the first "$5,000" and insert "$5,250".

Page 189, line 47, strike "$22,450,000" and "$23,750,000" and insert:

"$30,200,000" and "$31,500,000".

Page 190, after line 5, insert:

"5. As a condition of this appropriation, $7,750,000 each year from the general fund is designated for the Virginia Community College System to increase the number of credentials required in high-demand industry sectors of Energy, Healthcare, Information Technology, Manufacturing, Skilled Trades and Transportation across the nine GO Virginia regions."

Page 190, strike lines 9 through 43 and insert:

"I. 1. As a condition of this appropriation, $30,000,000 each year from the general fund is designated to offset the impact of programs under § 23.1, Chapter 6 as governed under § 4-5.01 b.7. of this act.

2. The State Council of Education for Virginia shall work with public higher education institutions to determine the appropriate allocation of these funds consistent with § 4-5.01 b.7. of this act.

3. Any unexpended balance in this item at the close of business on June 30 each year shall not revert to the general fund, but shall be carried forward and reappropriated to support the purposes specified in paragraphs J.1. and J.4. in the subsequent fiscal year.

4. By November 1 of each year, the Council shall report on the status of programs under § 23.1, Chapter 6 as governed under § 4-5.01 b.7. of this act.

J. As a condition of this appropriation, $5,000,000 the first year and $5,000,000 the second year from the general fund is designated for students eligible for state need-based financial aid pursuant to § 23.1-505.1 of the Code of Virginia."



Explanation

(This amendment makes changes to financial aid programs managed by the State Council of Higher Education. Funding is provided (a) to increase the Virginia Tuition Assistance Grant (VTAG) award for undergraduate students from $5,000 to $5,250, (b) for financial aid for students eligible for state need-based financial aid pursuant to § 23.1-505.1 of the Code of Virginia, and (d) for financial aid to offset costs of waiver programs under § 23.1, Chapter 6, Code of Virginia, and (c) for increased funding for the 21st Century Workforce Credential Grant program to increase credentials in high-demand program in six industry sectors (Energy, Healthcare, Information Technology, Manufacturing, Skilled Trades and Transportation) across the nine GO Virginia regions. In addition, the amendment transfers previously authorized financial aid funding directly to Norfolk State University and Virginia State University consistent with legislative intent. Lastly, the amendment makes a technical adjustment to repurpose one-time funding.)