2023 Special Session I

Budget Bill - HB6001 (Enrolled)

University of Virginia

Item 196

Item 196

First Year - FY2023Second Year - FY2024
Higher Education Student Financial Assistance (10800)$167,352,652$170,071,552
Scholarships (10810)FY2023 $76,751,133FY2024 $79,230,233
Fellowships (10820)FY2023 $90,601,519FY2024 $90,841,319
Fund Sources:  
GeneralFY2023 $13,634,364FY2024 $16,353,264
Higher Education OperatingFY2023 $153,718,288FY2024 $153,718,288

Authority: Title 23.1, Chapter 22, Code of Virginia.

A. Out of this appropriation, $250,000 the first year and $250,000 the second year from the general fund, shall be provided to support public-private sector partnerships in order to maximize the number of newly licensed nurses and increase the supply of nursing faculty.

B. The appropriation for the fund source Higher Education Operating in this Item shall be considered a sum sufficient appropriation, which is an estimate of the revenue collected to meet student financial aid needs, under the terms of the management agreement between the university and the Commonwealth as set forth in Chapters 933 and 943 of the 2006 Acts of Assembly.

C. Up to 15 percent of the funding in this item may be used to support Virginia Guaranteed Assistance Program eligible students for (1) priority funding who are enrolled in Data Science and Technology, Science and Engineering, Healthcare and Education programs and (2) as a grant for students in innovative internship programs provided that the institutions has at least one private sector partner and the grant is matched equally by the partner with non-state funding and / or the institution from private funds.