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2008 Session

Budget Bill - HB30 (Chapter 879)

Higher Education Tuition Moderation Incentive Fund

Item 254.10

Item 254.10

First Year - FY2009Second Year - FY2010
Higher Education Tuition Moderation Incentive Fund (11400)$17,500,000$17,500,000
Fund Sources:  
GeneralFY2009 $17,500,000FY2010 $17,500,000

Authority:  Discretionary Inclusion.


A.1. Out of this appropriation, $17,500,000 each year from the general fund is designated for the Higher Education Tuition Moderation Incentive Fund with potential allocations to public colleges and universities as follows:


Institution

Annual Amount

Christopher Newport University

$570,000

College of William and Mary

610,000

George Mason University

1,620,000

James Madison University

1,000,000

Longwood University

615,000

University of Mary Washington

440,000

Norfolk State University

200,000

Old Dominion University

1,090,000

Radford University

500,000

University of Virginia

1,580,000

University of Virginia's College at Wise

120,000

Virginia Commonwealth University

1,330,000

Virginia Military Institute

120,000

Virginia Polytechnic Institute & State University

2,500,000

Virginia State University

250,000

Richard Bland College

45,000

Virginia Community College System

4,910,000

Total

$17,500,000


2. Allocations listed in paragraph A.1. of this item shall be granted to public colleges and universities in a fiscal year so long as they limit the increase to tuition and mandatory Educational and General (E & G) fees for in-state undergraduate students to not more than three percent in that fiscal year.


3. Institutions that contribute nongeneral funds to ensure access and affordability to higher education for Virginia students shall be permitted to exceed the limit for increases in tuition and mandatory E&G fees for in-state undergraduate students stated in paragraph A.2. by one percent provided that any revenue generated by an increase in tuition and E&G fees beyond the limit stated in paragraph A.2. be used only to increase the level of financial aid for in-state students.


4. The State Council of Higher Education for Virginia (SCHEV), in conjunction with the Department of Planning and Budget (DPB), shall determine whether each public college and university has met the tuition requirements of this fund. SCHEV shall report its findings to the Governor, the Chairmen of the House Appropriations and Senate Finance Committees, and the Director of the Department of Planning and Budget by August 15 of each fiscal year.


5. Upon certification by SCHEV and DPB that the requirements in paragraph A.2. and A.3. have been met, the Director, Department of Planning and Budget, shall transfer the amounts listed above to each of the certified institutions.


6. In each year, any funds in paragraph A.1. not allocated pursuant to the requirements of paragraphs A.2., A.3 and A.4. shall be distributed as follows: (a) 50 percent shall be redistributed proportionally among the institutions that have met the requirements of paragraphs A.2., A.3. and A.4. and (b) 50 percent shall be reverted to the general fund.


7. If an institution increases tuition and mandatory E & G fees for in-state undergraduate students in fiscal year 2009 greater than 12 percent, the institution shall not be eligible for an allocation from the fund in either fiscal year.


8. SCHEV shall evaluate the nongeneral fund component of educational and general program in this budget. The intent of the General Assembly is that nongeneral fund appropriations in the educational and general program approximate actual revenue collections for that fiscal year. SCHEV shall report its findings and recommendations for adjustments to the nongeneral fund educational and general program appropriation to meet the legislative intent by October 1, 2008.


9. The Director, Department of Planning and Budget, shall report quarterly on all requested and recommended adjustments to nongeneral fund appropriations in the educational and general program to the Chairman of the House Appropriations and Senate Finance Committees."