HB494: Project Lead the Way Launch Program; created.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Chapter 13 of Title 22.1 an article numbered 1.4, consisting of sections numbered 22.1-212.23 and 22.1-212.24, as follows:
Article 1.4.
Project Lead the Way Launch Program.
§ 22.1-212.23. Project Lead the Way Launch Program created.
In order to stimulate dynamic instruction in science, engineering, and engineering technology, there is hereby created the Project Lead the Way Launch Program to provide matching funds to local school divisions for initiating a Project Lead the Way program in the division's high schools. Awards shall be matched on at least a dollar-for-dollar basis by the respective local school division, with private funds, or any combination thereof, for the purposes of initiating a Project Lead the Way program in a division's high school.
§ 22.1-212.24. Project Lead the Way Launch Fund; guidelines.
A. From such funds as are appropriated for this purpose and from such gifts, donations, grants, bequests, and other funds as may be received on its behalf, there is hereby created in the state treasury a special nonreverting fund to be known as the Project Lead the Way Launch Fund, hereafter referred to as "the Fund." The Fund shall be established on the books of the Comptroller. 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.
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 Board of Education.
B. The Board of Education shall develop and implement guidelines for the implementation of the provisions of this article, including but not limited to a process for application to determine the quantity of funds that have been designated for the launch of a Project Lead the Way Program in a school division and to ensure that the school divisions receiving funds from the Fund shall be geographically diverse.
C. Awards from the Fund are available on a first-come, first-served basis, but in no event may a local school division receive more than one award from such Fund.