Virginia § 23.1-212.1 - Nuclear Education Grant Fund and Program

§ 23.1-212.1. Nuclear Education Grant Fund and Program

A. As used in this section, "nuclear education program" means an instructional program that leads to a degree or credential that specifically supports the nuclear power industry, including nuclear engineering and nuclear welding.

B. There is hereby created in the state treasury a special nonreverting fund to be known as the Nuclear Education Grant Fund, referred to in this section as "the Fund." The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose and any gifts, donations, grants, bequests, and other funds 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 pursuant to the Nuclear Education Grant Program established in subsection C. 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 chairman of the Council.

C. There is hereby established the Nuclear Education Grant Program (the Program), to be administered by the Council, for the purpose of awarding grants from the Fund on a competitive basis to any public institution of higher education or private institution of higher education that seeks to establish or expand a nuclear education program.

D. The Council shall establish such rules, policies, and procedures as it deems necessary for the administration of the Program, including rules, policies, and procedures for Program applications and grant awards.

2023, c. 508.