Thursday, July 24, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
SB94: Student Financial Security Program; created.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Chapter 4.1 of Title 23 an article numbered 4, consisting of sections numbered 23-38.19:6, 23-38.19:7, and 23-38.19:8 as follows:
§ 23-38.19:6. Student Financial Security Program.
There is hereby created the Student Financial Security Program. The Program shall provide state-funded, need-based financial aid to undergraduate students attending two- and four-year public institutions of higher education in the Commonwealth in order to ensure need neutrality. For the purposes of this article, "need neutrality" shall be defined as the relationship between student financial aid and tuition wherein additional financial aid appropriations equal financial need created by expected tuition increases. The expected tuition increase is based on the increases in non-general fund appropriation for each institution of higher education in the appropriation act. Student financial need shall be determined by a need analysis system approved by the Council.
§ 23-38.19:7. Student Financial Security Program; appropriation.
A. Funds for the Student Financial Security Program shall be included in each institution's appropriation for undergraduate student financial assistance authorized pursuant to Chapters 5 through 16 of this title.
B. Appropriations shall be made to each public two- and four-year institution of higher education in an amount to ensure need neutrality at that institution.
§ 23-38.19:8. Guidelines.
The State Council of Higher Education shall annually determine the amount necessary to ensure need neutrality.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.