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Item 142 #1s

Education: Higher Education
FY 14-15
FY 15-16
State Council Of Higher Education For Virginia
$2,400,000
$3,000,000
GF

Language:
Page 141, line 5, strike "$72,596,213" and insert "$74,996,213".
Page 141, line 5, strike "$72,596,213" and insert "$75,596,213".
Page 142, strike line 51.
Page 143 strike line 1 and insert:
"G.1. Out of the appropriation for this Item, $4,050,000 the first year and $4,650,000 the second year from the general fund is designated for the Two-Year College Transfer Grant Program. Out of this appropriation, $50,000 the first year and $50,000 the second year is designated to cover direct administrative costs for this program."
Page 143, strike lines 7-9 and insert:
"3. The amount of the grant for an eligible student shall approximate the difference between the costs of tuition and mandatory educational and general fees paid by the recipient at a Virginia two-year public institution of higher education and the cost of such tuition and fees at a Virginia four-year public institution of higher education, as determined by the State Council of Higher Education for Virginia. The actual amount of the award depends on the number of students eligible under 23-38.10:9 through 23-38.10:13, Code of Virginia. Changes that decrease the grant amount shall be determined by the Council."

Explanation:
(This amendment provides $2.4 million GF in the first year and $3.0 million GF in the second year to provide additional funding to the Two-Year Transfer Grant program. This amendment is a companion to SB 429. The language changes generally would allow transfer grant recipients to receive awards that approximate the difference between the costs of tuition and mandatory educational and general fees paid by the recipient at a Virginia two-year public institution and the cost of such tuition and fees at a Virginia four-year public institution of higher education.)


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