HB654: Math, Science, and Career and Technical Education Grant Program and Fund; established.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 22.1-290.02 as follows:
§ 22.1-290.02. Mathematics, Science, and Career and Technical Education Grant Program and Fund.
A. There is hereby established the Mathematics, Science, and Career and Technical Education Grant Program, hereafter referred to as "the Program," to provide competitive grants to current teachers to attend a public institution of higher education in Virginia in order to obtain a master's degree. The Program shall be administered by the Board of Education, and the Board may establish guidelines to provide for the implementation of the Program, including but not limited to (i) an application process, (ii) criteria for the award of grants, and (iii) a listing of qualified degree programs to be eligible under the Program.
B. There is hereby created in the state treasury a special nonreverting fund to be known as the Mathematics, Science, and Career and Technical Education Grant Program Fund, hereafter referred to as "the Fund." The Fund shall be established on the books of the Comptroller. All funds appropriated by the General Assembly and any gifts, grants, or donations from public or private sources shall be paid into the Fund and 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. Moneys in the Fund shall be used solely for the purposes of providing competitive grants to Virginia teachers to attend a public institution of higher education in Virginia in order to obtain a master's degree.
C. Under this Program grants shall be awarded to, or on behalf of, currently licensed secondary school mathematics, science, or career and technical education teachers. Grants shall be disbursed to an eligible teacher, or on the teacher's behalf, to the institution to which the teacher has been admitted for the academic year.
D. Grants awarded pursuant to this section shall be renewable for one year.