Authority: Title 23.1, Chapter 31, Article 4, Code of Virginia.

A. It is the intent of the General Assembly that the New College Institute, the Institute for Advanced Learning and Research, and the Southern Virginia Higher Education Center coordinate their activities, both instructional and research, to the maximum extent possible to best meet the needs of the citizens of the region, to ensure effective utilization of resources, and to avoid unnecessary duplication. The three entities shall report annually by October 1 to the Secretary of Education and the State Council of Higher Education and the Department of Planning and Budget on their joint efforts in this regard.

B. The requirements of § 4-5.05 shall not apply to this appropriation.

C. Notwithstanding any other provision of law, New College Institute is authorized to retain the income generated by the rental of space at the Building on Baldwin in Martinsville, VA to outside entities.

D. 1. The Board of Directors of New College Institute in collaboration with representatives of GO Virginia Region 3, the Institute for Advanced Learning and Research, Patrick and Henry Community College, local school boards, major regional employers, and the Martinsville-Henry County Academic Foundation shall develop a sustainability plan, including a comprehensive business plan and customer recruitment and expansion strategy, to provide higher education degree and certification programs in accordance with its mission. New College Institute shall review options to achieve stated goals and shall report on these options to the Governor, the Chair of the Senate Finance and Appropriations Committee, and the Chair of the House Appropriations Committee no later than August 1, 2025.

2. Options shall include, but not be limited to: continued operation as an independent public entity with the existing operating structure; partnering with additional public and/or private entities offering degree or certificate completion; closure of the facility; and merging with another public entity.

3. For options regarding partnering with other entities, such proposed agreements shall detail the plan of operational guidance and funding mechanisms and shall be subject to the approval of all governance boards impacted.

4. For options regarding merging with another public entity, such proposals shall detail the plan of operational guidance and funding mechanisms and shall be subject to enacted legislation.

5. No funding shall be included for the continued operation of the New College Institute in the biennium beginning July 1, 2026.