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2011 SESSION
HB 2296 Commonwealth Scholars Program and Investment Fund; established.
Introduced by: David L. Englin | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Commonwealth Scholars Program and Investment Fund; established. Provides for the establishment of the Commonwealth Scholars Program and Investment Fund whereby public or private organizations and individuals may make monetary contributions to provide scholarships for eligible students in order to expand access to higher education. Scholarship funds may be paid to any accredited, degree-granting public or private nonprofit institution of higher education in Virginia. Eligibility for the scholarships is limited to domiciled residents of Virginia as defined by § 23-7.4 and who are admitted and enrolled as full-time students in a public or nonprofit private institution of higher education, and any other criteria established by the Council. Each scholarship recipient will be required to sign a promissory note agreeing to annually pay back into the Fund a percentage of his annual income, not to exceed five percent, beginning five years after the end of the scholarship funded program, and for a period not to exceed 25 years.
FULL TEXT
HISTORY
- 01/12/11 House: Prefiled and ordered printed; offered 01/12/11 11101586D
- 01/12/11 House: Referred to Committee on Education
- 01/18/11 House: Assigned Education sub: #4 Higher Education and Arts
- 01/25/11 House: Subcommittee recommends referring to Committee on Appropriations
- 01/31/11 House: Referred from Education by voice vote
- 01/31/11 House: Referred to Committee on Appropriations
- 01/31/11 House: Assigned App. sub: Higher Education
- 02/02/11 House: Subcommittee recommends laying on the table (8-Y 0-N)
- 02/08/11 House: Left in Appropriations