VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2006 SESSION

• history | hilite | pdf | print version

061018492
HOUSE BILL NO. 682 Offered January 11, 2006 Prefiled January 10, 2006 A BILL to amend the Code of Virginia 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, relating to the Student Financial Security Act. ---------- Patrons-- Rust and Plum ---------- Referred to Committee on Education ----------

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:

Article 4. Student Financial Security Act.

§ 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.