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2013 SESSION

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13104647D
SENATE BILL NO. 1185 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the Senate Committee on Finance on January 29, 2013) (Patron Prior to Substitute--Senator Vogel) A BILL to amend the Code of Virginia by adding in Chapter 15 of Title 22.1 an article numbered 6, consisting of a section numbered 22.1-318.1, relating to teacher performance; Strategic Compensation Grant Fund.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Chapter 15 of Title 22.1 an article numbered 6, consisting of a section numbered 22.1-318.1, as follows:

Article 6. Strategic Compensation Grant Initiative.

§ 22.1-318.1. Strategic Compensation Grant Fund established.

A. There is hereby created in the state treasury a special nonreverting fund to be known as the Strategic Compensation Grant Fund, hereafter referred to as "the Fund." The Fund shall be established on the books of the Comptroller. All funds as may be appropriated for this purpose and any gifts, donations, grants, bequests, and other funds as may be received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be 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 awarding grants on a competitive basis to any local school division, to be used for awarding incentive payments to qualified teachers. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Superintendent of Public Instruction.

B. The Department shall develop guidelines setting forth the general requirements and procedures for local school divisions to apply for a grant from the Fund to be used to award incentive payments to teachers and the qualifications for teachers to be eligible to receive such incentive payments.