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ACROSS SESSIONS
- Subject Index: Since 1995
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1995 SESSION
LD8838761Be it enacted by the General Assembly of Virginia:
1. That § 2.1-1.5 of the Code of Virginia is amended and reenacted and that the Code of Virginia is amended by adding in Title 51.5 a chapter numbered 11, consisting of sections numbered 51.5-53 through 51.5-59 as follows:
§ 2.1-1.5. Entities not subject to standard nomenclature.
The following entities are not subject to the provisions of § 2.1-1.2 due to the unique characteristics or enabling legislation of the entities:
Assistive Technology Loan Fund Authority.
Richmond Eye and Ear Hospital Authority.
Small Business Financing Authority.
State Education Assistance Authority.
Virginia Agriculture Development Authority.
Virginia College Building Authority.
Virginia Education Loan Authority.
Virginia Housing Development Authority.
Virginia Innovative Technology Authority.
Virginia Port Authority.
Virginia Public Building Authority.
Virginia Public School Authority.
Virginia Resources Authority.
Virginia Student Assistance Authorities.
Board of Commissioners, Virginia Agriculture Development Authority.
Board of Commissioners, Virginia Port Authority.
Board of Directors, Assistive Technology Loan Fund Authority.
Board of Directors, Richmond Eye and Ear Hospital Authority.
Board of Directors, Small Business Financing Authority.
Board of Directors, Virginia Student Assistance Authorities.
Board of Directors, Virginia Innovative Technology Authority.
Board of Directors, Virginia Resources Authority.
Board of Regents, Gunston Hall Plantation.
Board of Regents, James Monroe Memorial Law Office and Library.
Board of Trustees, Family and Children's Trust Fund.
Board of Trustees, Frontier Culture Museum of Virginia.
Board of Trustees, Jamestown-Yorktown Foundation.
Board of Trustees, Miller School of Albemarle.
Board of Trustees, Rural Virginia Development Foundation.
Board of Trustees, The Science Museum of Virginia.
Board of Trustees, Virginia Museum of Fine Arts.
Board of Trustees, Virginia Museum of Natural History.
Board of Trustees, Virginia Outdoor Foundation.
(Effective July 1, 1996) Board of the Virginia Higher Education Tuition Trust Fund.
Board of Visitors, Christopher Newport University.
Board of Visitors, The College of William and Mary in Virginia.
Board of Visitors, George Mason University.
Board of Visitors, Gunston Hall Plantation.
Board of Visitors, James Madison University.
Board of Visitors, Longwood College.
Board of Visitors, Mary Washington College.
Board of Visitors to Mount Vernon.
Board of Visitors, Norfolk State University.
Board of Visitors, Old Dominion University.
Board of Visitors, Radford University.
Board of Visitors, University of Virginia.
Board of Visitors, Virginia Commonwealth University.
Board of Visitors, Virginia Military Institute.
Board of Visitors, Virginia Polytechnic Institute and State University.
Board of Visitors, Virginia State University.
Governing Board, Virginia College Building Authority.
Governing Board, Virginia Public School Authority.
Library Board, The Library of Virginia.
State Board for Community Colleges, Virginia Community College System.
Alexandria Historical Restoration and Preservation Commission.
Chesapeake Bay Bridge and Tunnel Commission.
Hampton Roads Sanitation District Commission.
Chesapeake Bay Bridge and Tunnel District.
Hampton Roads Sanitation District.
Christopher Newport University.
College of William and Mary in Virginia.
Frontier Culture Museum of Virginia.
George Mason University.
James Madison University.
Jamestown-Yorktown Foundation.
Longwood College.
Mary Washington College.
Miller School of Albemarle.
Norfolk State University.
Old Dominion University.
Radford University.
The Science Museum of Virginia.
University of Virginia.
Virginia Commonwealth University.
Virginia Community College System.
Virginia Military Institute.
Virginia Museum of Fine Arts.
Virginia Polytechnic Institute and State University.
The Library of Virginia.
Virginia State University.
Chippokes Plantation Farm Foundation.
Rural Virginia Development Foundation.
Virginia Conservation and Recreation Foundation.
Virginia Historic Preservation Foundation.
Virginia Outdoor Foundation.
Virginia Museum of Natural History.
Gunston Hall Plantation.
Virginia Retirement System.
§ 51.5-53. Definitions.
As used in this chapter, unless the context clearly requires a different meaning:
"Assistive technology" means any item, piece of equipment or device that enables an individual with a disability to improve his or her independence and quality of life.
"Authority" means the Assistive Technology Loan Fund Authority established pursuant to this chapter.
"Board" means the Board of Directors of the Assistive Technology Loan Fund Authority.
"Fund" means the Assistive Technology Loan Fund established pursuant to this chapter.
"Qualifying borrower" means any person who demonstrates that a loan made pursuant to this chapter will assist one or more persons with disabilities to improve their independence or become more productive members of the community. The person must demonstrate creditworthiness and repayment abilities to the satisfaction of the Board.
§ 51.5-54. Declaration of purpose; Assistive Technology Loan Fund Authority established.
A. It is hereby found and determined by the General Assembly that there exists in the Commonwealth a need to provide assistance in the purchase of assistive technology equipment which is designed to enable persons with disabilities to become more independent or more productive members of the community with an improved quality of life.
B. To achieve the objectives of subsection A, the Assistive Technology Loan Fund Authority is hereby created, with such powers and duties as are set forth in this chapter, as a public body corporate and as a political subdivision of the Commonwealth.
§ 51.5-55. Membership of Board; terms, compensation, and expenses.
A. . All powers, rights and duties conferred by this chapter or other
provisions of law upon the Authority shall be exercised by the Board of
Directors of the Authority. The Board shall consist of [
nine ten ] members as follows: the Secretary of
Health and Human Resources or his designee; the Treasurer of the Commonwealth
or his designee; [ an employee of the Woodrow Wilson Rehabilitation
Center; ] an experienced consumer lender; a certified public
accountant; and five persons with a range of disabilities. The citizen
members shall be appointed by the Governor and confirmed by the General
Assembly. The Board shall annually elect a chairman from among its members.
Board members shall receive no salaries but shall be reimbursed for all
reasonable and necessary expenses incurred by them in the performance of
their duties on behalf of the Authority.
B. The seven citizen members of the Board shall initially be appointed for terms of office as follows: three for a term of two years, two for a term of three years, and two for a term of four years. Appointments thereafter shall be made for four-year terms, except that appointments to fill vacancies shall be made for the unexpired terms. Representatives of state agencies shall serve coincident with the term of the Governor. No member appointed by the Governor shall be eligible to serve more than two complete terms in succession.
C. Meetings of the members of the Board shall be held at the call of the chairman or whenever four members so request. The Board shall meet regularly to review individual loan applications and approve or deny such applications based upon information provided to or obtained by the Board. In any event, the Board shall meet as necessary to attend to the business of the Authority.
§ 51.5-56. Powers of the Authority.
The Authority is hereby granted all powers necessary or appropriate to carry out and effectuate its purposes including, but not limited to, the following powers to:
1. Have perpetual existence as a public body corporate and as a political subdivision of the Commonwealth;
2. Adopt, amend, and repeal bylaws, rules and regulations not inconsistent with this chapter, to regulate its affairs and to carry into effect the powers and the purposes of the Authority and for the conduct of its business. All regulations of the Authority shall be promulgated in accordance with the Administrative Process Act (§ 9-6.14:1 et seq.):
3. Sue and be sued in its name;
4. Have an official seal and alter it at will;
5. Establish, administer, manage, including the creation of reserves, and make expenditures from the Fund for the sole purpose of providing loans to individuals with disabilities for the acquisition of assistive technology;
6. Administer the Fund established by this chapter and contract with the State Treasurer and other state or community-based entities or groups working with persons with disabilities for such assistance in administering the loan program as the Board may require;
7. Maintain an office at such place or places within the Commonwealth as it may designate;
8. Make and execute contracts and all other instruments necessary and convenient for the performance of its duties and the exercise of its powers under this chapter upon such terms and conditions as it deems appropriate, including contracts with appropriate state or community-based entities or groups dealing with disabled persons;
9. Employ office personnel, advisers, consultants, professionals and agents as may be necessary in its judgment, and to fix their compensation;
10. Procure insurance against any loss in connection with its property and other assets, including, but not limited to, loans in such amounts and from such insurers as it may deem advisable;
11. Receive, hold, accept, and administer from any source gifts, grants, aid or contributions of money, property, labor or other things of value to be held, used and applied to carry out the purposes of this chapter (subject, however, to any conditions upon which grants or contributions are made) including, but not limited to, gifts, grants, bequests of money or devises from any source, including the federal government or any of its agencies or instrumentalities for the purposes of this chapter. Unless otherwise restricted by the terms of the gift or bequest, the Board is authorized to sell, exchange, or otherwise dispose of such money, securities, or other property given or bequeathed to it in furtherance of its purposes;
12. Use any fund or funds of the Authority for any and all expenses to be paid by the Authority including, by way of example, but not by limitation, any and all expenses for administrative, legal, and other services;
13. Collect fees and charges, as the Authority determines to be reasonable, in connection with its loans, insurance, guarantees, commitments and servicing thereof; and
14. Take any action necessary or convenient for the exercise of the powers granted by this chapter or reasonably implied from them.
§ 51.5-57. Assistive Technology Loan Fund established.
A. There is hereby established a permanent and perpetual fund to be known as the Assistive Technology Loan Fund, consisting of such moneys as may be appropriated by the General Assembly from time to time, gifts, bequests, endowments or grants from the United States government, its agencies and instrumentalities, all receipts by the Fund from loans made by it, all income from the investment of moneys held in the Fund, and any other available sources of funds, public and private. Any moneys remaining in the Fund at the end of a biennium shall not revert to the general fund but shall remain in the Fund. Interest and income earned from the investment of such funds shall remain in the Fund and be credited to it.
B. The Fund shall be used to provide loans to individuals with disabilities within the Commonwealth for the purpose of acquiring assistive technology or other equipment designed to help such individuals become more independent. The Fund shall also be used to buy down interest rates of lending institutions making such loans and provide a loan guarantee for loans made by lending institutions for such purposes. The Fund shall be used only when, in the discretion of the Board, loan applicants have met eligibility criteria and the release of money is deemed appropriate.
C. The Fund shall be administered and managed by the Authority. The costs and expenses of maintaining, servicing and administering the Fund may be paid out of amounts in the Fund.
§ 51.5-58. Provision of loans.
A. The Board may enter into loan agreements with any qualifying borrower who demonstrates (i) that the loan will be used to acquire assistive technology or other equipment designed to help one or more persons with disabilities to improve their independence or become more productive members of the community and (ii) who has the ability to repay the loan.
B. The amount and terms of any loan shall be determined by the Board.
C. All loans must be repaid on such terms and at such interest rates as the Board may determine to be appropriate in accordance with guidelines established in a manner similar to the promulgation of regulations pursuant to the Administrative Process Act (§ 9-6.14:1 et seq.).
§51.5-59. Annual report.
The Board shall submit an annual statement of the receipts, disbursements, and current investments of the Fund for the preceding year to the Governor and the General Assembly. The report shall set forth a complete operating and financial statement covering the operation of the Fund during the year.