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2026 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Boysko
SCHEV - Virginia Private College Preservation and Maintenance Fund and Program

Item 131 #11s

Item 131 #11s

First Year - FY2027 Second Year - FY2028
Education: Higher Education
State Council of Higher Education for Virginia FY2027 $5,000,000 FY2028 $5,000,000 GF

Language
Page 196, line 46, strike "$373,888,512" and insert "$378,888,512".
Page 196, line 46, strike "$376,358,512" and insert "$381,358,512".

Page 201, after line 24, insert:

"K. 1. Out of the amounts in this item, $5,000,000 the first year and $5,000,000 the second year from the general fund is provided to establish and capitalize the Virginia Private College Preservation and Maintenance Fund (the Fund) and to implement and administer the Virginia Private College Preservation and Maintenance Program (the Program).

2. As used in this paragraph, unless the context requires a different meaning: a. “Certified historic structure” means a building or structure that is (i) individually listed on the Virginia Landmarks Register or the National Register of Historic Places or certified by the Department of Historic Resources (DHR) as meeting the criteria for such a listing or (ii) certified by DHR as contributing to a listed historic district; b. “CICV” means the Council of Independent Colleges in Virginia; c. “DHR” means the Department of Historic Resources. d. “Eligible institution” means an institution that meets the requirements of § 23.1-628(A) of the Code of Virginia; e. “Eligible project” means a renovation, restoration, repair, preservation, or deferred maintenance project at an eligible institution, including projects addressing roofs, envelopes, mechanical systems, life-safety systems, structural integrity, accessibility, and building preservation; f. “Fund” means the Virginia Private College Preservation and Maintenance Fund; and g. “Program” means the Virginia Private College Preservation and Maintenance Program.

3. There is hereby created in the state treasury a special nonreverting fund to be known as the Virginia Private College Preservation and Maintenance Fund. The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose and any gifts, donations, grants, bequests, and other funds received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund.

4. Moneys in the Fund shall be used solely for the purposes of awarding matching grants on a competitive basis pursuant to the Program to eligible institutions for eligible projects. Grant awards shall require an institutional match equal to the amount of the grant.

5. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Executive Director of the State Council of Higher Education for Virginia (the Council) or his designee.

6.  In recognition of (i) the value of private colleges to the status and well-being of the Commonwealth's system of higher education, (ii) the current state and level of deferred maintenance at many private colleges in the Commonwealth, and (iii) the need to address these issues to preserve higher education options for students, there is hereby established the Virginia Private College Preservation and Maintenance Program for the purpose of awarding matching grants from the Fund to eligible institutions on a competitive basis to assist with eligible projects. The Program shall be administered by the Council, which shall serve as the grant maker and fiscal agent. In administering the Program, the Council shall collaborate with CICV and DHR and shall: a. Establish deadlines, processes, procedures, and forms necessary or appropriate for the proper administration of the Program, taking into account timelines relevant to the state budgeting process; b. For efficiency, uniformity, and orderliness, utilize a web-based grants administration system, including WebGrants or any successor system, to receive, evaluate, award, and monitor grants; c. Require all grant applications from eligible institutions to be coordinated, submitted, and recommended by CICV; d. Require grant applicants to provide sufficient evidence of matching funds for the eligible project in an amount equal to the amount of the grant to be awarded; e. Establish clear, consistent, and objective criteria for the grading or ranking of grant applications and consider the establishment of a waitlist if requested grant funds exceed available funds; and f. In consultation with CICV and DHR, establish procedures for technical review and project monitoring for projects involving a certified historic structure or a structure determined by DHR to be potentially eligible for certification.

7. The Council, in consultation with CICV and DHR, shall structure the Program to include an application process that (i) determines eligibility, (ii) reviews scope of work, and (iii) documents completion and closeout. For projects involving a certified historic structure or a structure determined by DHR to be potentially eligible for certification, the Council shall: a. Require baseline documentation sufficient for DHR review; b. Provide for DHR technical input on the proposed scope of work and best practices; and c. Provide for project monitoring and closeout documentation as a condition of final payment.

8. The Council may reserve up to five percent of the Fund annually for reasonable costs of administering, reviewing, and monitoring grants under this paragraph, and may provide a portion of such amount to DHR for costs related to technical review, monitoring, and closeout.

9. The Council may issue guidelines, forms, and procedures necessary to implement this paragraph and shall report annually to the Chairs of the House Appropriations and the Senate  Finance and Appropriations Committees on awards, project status, and outcomes."



Explanation

(This amendment provides $5.0 million GF each year to establish the Virginia Private College Preservation and Maintenance Fund and Program to support private nonprofit colleges and universities, including two Virginia Historically Black Colleges or Universities, with infrastructure and maintenance needs that may not be easily addressed due to smaller enrollments, lack of credit rating, or infrequent access to private lending.)