SB6011: Gen. appropriation act; designation of add'tl. surplus, repeal of modification to certain programs.

Legislative Summary

General appropriation act; designation of additional surplus; repeal of modifications to certain waiver programs and delayed effective date for academic progress requirement; JLARC review. Designates certain additional surplus revenues in the amount of $45 million to offset the impact of financial aid waivers and stipends for the Virginia Military Survivors and Dependents Education Program and related programs and removes language in the appropriation act imposing additional requirements on financial aid waivers and stipends for such programs. The bill also includes an academic progress requirement for program eligibility, beginning July 1, 2025, unless a superseding law is passed during the 2025 Regular Session of the General Assembly. The bill also directs the Joint Legislative Audit and Review Commission (JLARC) to conduct a review of the Virginia Military Survivors and Dependents Education Program to assess its long-term sustainability and report its findings and recommendations to the Senate Committee on Finance and Appropriations and the House Committee on Appropriations by September 1, 2024.