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2005 SESSION

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VIRGINIA ACTS OF ASSEMBLY -- CHAPTER An Act to amend the Code of Virginia by adding a section numbered 22.1-208.2:4, relating to the Entrepreneurship Education Program. [S 969] Approved  

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 22.1-208.2:4 as follows:

§ 22.1-208.2:4. Entrepreneurship Education Program.

From such gifts, donations, grants, bequests, and other funds as may be received on its behalf, there is hereby established the Entrepreneurship Education Program to be administered by the Board of Education.

Subject to the authority of the Board of Education to provide for its disbursement, the Program shall award grants on a competitive basis to public secondary schools to support innovative educational programs designed to assist students in the development of their entrepreneurial, academic, and life skills. Such programs shall, among other things, (i) incorporate experiential learning; (ii) include partnerships with business and higher education; and (iii) assist students in practicing and mastering business concepts, such as negotiation, pricing, and the development and implementation of plans for individual student businesses.

Such programs may be integrated into existing curriculum or offered outside regular school hours.

B. The Board shall establish criteria for making grants, procedures for identifying students, and procedures for determining amounts for grants to eligible public schools. The Board may issue guidelines governing the Program as it deems necessary and appropriate. 

2. That this act shall expire on July 1, 2007, if no gifts, donations, grants, bequests, or other funds effectuating the purposes of this act are received by such date.