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2024 Session

Budget Amendments - HB30 (Floor Approved)

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Part IV - Auxiliary Fees (language only)

Item 4-2.01 #2h

Item 4-2.01 #2h

Revenues
Nongeneral Fund Revenues

Language

Page 590, line 37, after "services;", insert:

"fee increases required to deliver NCAA mandated services;".

Page 590, after line 41, insert:

"d) The authority granted by this section to all public institutions of higher education shall not be limited by paragraph D of § 23.1-1309 Code of Virginia; however, for institutions complying with paragraph C of § 23.1-1309 Code of Virginia, the ratio of the increase in the subsidy to the increase in generated revenue shall not exceed 4:1 using a rolling average over the immediately preceding five years."

Page 590, after line 46, insert:

"11. For institutions complying with paragraph C of  § 23.1-1309 Code of Virginia "Subsidy percentage" means the subsidy divided by the athletics revenue, provided that revenues allocated to (i) support spirit groups associated with any intercollegiate athletics program, (ii) meet any indirect cost policy requirements, (iii) debt service for previously approved intercollegiate athletics capital outlay projects, or (iv) expenses related to student-athlete health, to include medical expenses, insurance premiums and staff compensation, may be excluded from the subsidy for the purposes of such calculation. The Auditor of Public Accounts shall require the reporting of expenses related to student-athlete health on a separate line per paragraph B of  § 23.1-1309."



Explanation

(This amendment makes technical adjustments to auxiliary fee policy in light of recent NCAA mandates.)