HB1264: New Economy Workforce Credential Grant Program; eligible institutions, maximum reimbursement.

HOUSE BILL NO. 1264

Offered January 20, 2022
A BILL to amend and reenact § 23.1-627.4 of the Code of Virginia, relating to the New Economy Workforce Credential Grant Program; eligible institutions; maximum reimbursement per completed noncredit workforce training program.
Patron-- Filler-Corn

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1. That § 23.1-627.4 of the Code of Virginia is amended and reenacted as follows:

§ 23.1-627.4. Student grants.

A. Subject to the availability of funds, any eligible student who enrolls in a noncredit workforce training program offered by an eligible institution pursuant to the Program may apply for and be awarded a grant to cover two-thirds of the cost of the noncredit workforce training program, provided that at the time of enrollment the eligible student pays one-third of the cost of the noncredit workforce training program and signs an agreement to complete the noncredit workforce training program or pay an additional one-third of the program cost in the event of noncompletion. Upon the presentation of satisfactory proof of completion of the noncredit workforce training program by the eligible student, the Council shall reimburse the institution in an amount equal to one-third of the cost of the program. Upon the presentation of satisfactory proof of the attainment of a noncredit workforce credential by the eligible student, the Council shall reimburse the institution in an amount equal to one-third of the cost of the program. However, the Council shall not reimburse any eligible institution more than $3,000 $4,000 per completed noncredit workforce training program per eligible student pursuant to the Program.

B. Grants shall not be reduced by an eligible student's concurrent receipt of financial aid from any other source except in cases in which the grant and such other financial aid would result in total assistance in excess of tuition, fees, books, and other allowable costs of completing the noncredit workforce credential program.