{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1241.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1241.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1241.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1241.html"}],"law_id":73066,"edition_id":1,"section_id":73066,"structure_id":16628,"section_number":"23.1-1241","catch_line":"Approval and update of memorandum of understanding","history":"2019, cc. 638, 639.","full_text":"A\n\nIn order to support the goal of the creation of at least 25,000 new eligible degrees by 2039, the amount of grants available under this chapter shall be calculated in accordance with a memorandum of understanding negotiated with each qualified institution. Each memorandum of understanding shall contain criteria for eligible degrees, eligible expenses, and degree production goals for the institution to reach by 2039.B\n\nEach memorandum of understanding shall be structured in accordance with and be consistent with the objectives and purposes of this chapter and the criteria and requirements developed by, and in the form and manner prescribed by, the Secretary of Finance in consultation with the other designated reviewers. Such criteria and requirements shall include:1\n\nThe submission of an enrollment plan by the qualified institution detailing the number of eligible degrees produced between July 1, 2013, and June 30, 2018;2\n\nA detailed plan of (i) how the qualified institution proposes to materially increase the enrollment, retention, and graduation of students pursuing eligible degrees, (ii) the resources necessary to accomplish such increase in enrollment, retention, and graduation, and (iii) how the qualified institution plans to track new enrollment;3\n\nAn accounting of the anticipated number of in-state and out-of-state students enrolling in eligible degree programs;4\n\nThe existing capacity of current eligible degree programs, and an estimate of the amount of funding necessary to grow the qualified institution’s enrollment capacity pursuant to the plan submitted pursuant to subdivision 2;5\n\nWhere applicable, proposed plans to partner with other qualified institutions to provide courses or programs that will lead to the completion of an eligible degree;6\n\nWhere applicable, existing or proposed articulation agreements with the Virginia Community College System to provide guaranteed admission for qualified students with an associate degree for transfer into an eligible degree program;7\n\nA proposed reallocation of existing funds held by or appropriated to the qualified institution to meet increased enrollment, retention, and graduation goals in eligible degree programs; and8\n\nAny other information deemed relevant.C\n\nThe designated reviewers shall review each qualified institution’s proposed memorandum of understanding, or amendments thereto; provide comments or affirmation to the qualified institution by September 1 of the applicable year; and forward the proposed memorandum of understanding and any comments or affirmations to the Governor for approval of specific funding recommendations.D\n\nThe Secretary of Finance, in consultation with the other designated reviewers, shall make a recommendation regarding the amount of annual grant payments for which a qualified institution may be eligible pursuant to its memorandum of understanding. In determining the appropriate amount of such grants, the Secretary and designated reviewers shall consider (i) the actual cost of eligible degrees at the qualified institution, (ii) the number of students enrolled in qualified degree programs adjusted for actual graduation rates at the qualified institution, (iii) tuition revenues generated by in-state and out-of-state students in eligible degree programs at the qualified institution, and (iv) the reallocation of other funds held by or appropriated to the qualified institution for eligible new degree programs. A qualified institution shall be eligible to receive grants pursuant to this chapter, and subject to appropriation, upon signature of the memorandum of understanding by the Governor.E\n\nA qualified institution with an approved memorandum of understanding may request an update to its memorandum of understanding no more than once annually and no later than July 1 of each year. The designated reviewers shall review the request and determine if an update is warranted. The Secretary of Finance, in consultation with the other designated reviewers, may request that a qualified institution update its agreement at any point during the year. No amendment to a memorandum of understanding shall be final until signed by the Governor.F\n\nA new or amended memorandum of understanding shall be approved and signed pursuant to subsection D no later than November 1 in order for a qualified institution to apply for a grant in the next fiscal year.","order_by":null,"text":{"0":{"id":263097,"text":"In order to support the goal of the creation of at least 25,000 new eligible degrees by 2039, the amount of grants available under this chapter shall be calculated in accordance with a memorandum of understanding negotiated with each qualified institution. Each memorandum of understanding shall contain criteria for eligible degrees, eligible expenses, and degree production goals for the institution to reach by 2039.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":263098,"text":"Each memorandum of understanding shall be structured in accordance with and be consistent with the objectives and purposes of this chapter and the criteria and requirements developed by, and in the form and manner prescribed by, the Secretary of Finance in consultation with the other designated reviewers. Such criteria and requirements shall include:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":263099,"text":"The submission of an enrollment plan by the qualified institution detailing the number of eligible degrees produced between July 1, 2013, and June 30, 2018;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":263100,"text":"A detailed plan of (i) how the qualified institution proposes to materially increase the enrollment, retention, and graduation of students pursuing eligible degrees, (ii) the resources necessary to accomplish such increase in enrollment, retention, and graduation, and (iii) how the qualified institution plans to track new enrollment;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":263101,"text":"An accounting of the anticipated number of in-state and out-of-state students enrolling in eligible degree programs;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":263102,"text":"The existing capacity of current eligible degree programs, and an estimate of the amount of funding necessary to grow the qualified institution’s enrollment capacity pursuant to the plan submitted pursuant to subdivision 2;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":263103,"text":"Where applicable, proposed plans to partner with other qualified institutions to provide courses or programs that will lead to the completion of an eligible degree;","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"B6"},"7":{"id":263104,"text":"Where applicable, existing or proposed articulation agreements with the Virginia Community College System to provide guaranteed admission for qualified students with an associate degree for transfer into an eligible degree program;","type":"section","prefixes":["B","6"],"prefix":"6","entire_prefix":"B6","prefix_anchor":"B6","level":2,"prior_prefix":"B5","next_prefix":"B7"},"8":{"id":263105,"text":"A proposed reallocation of existing funds held by or appropriated to the qualified institution to meet increased enrollment, retention, and graduation goals in eligible degree programs; and","type":"section","prefixes":["B","7"],"prefix":"7","entire_prefix":"B7","prefix_anchor":"B7","level":2,"prior_prefix":"B6","next_prefix":"B8"},"9":{"id":263106,"text":"Any other information deemed relevant.","type":"section","prefixes":["B","8"],"prefix":"8","entire_prefix":"B8","prefix_anchor":"B8","level":2,"prior_prefix":"B7","next_prefix":"C"},"10":{"id":263107,"text":"The designated reviewers shall review each qualified institution’s proposed memorandum of understanding, or amendments thereto; provide comments or affirmation to the qualified institution by September 1 of the applicable year; and forward the proposed memorandum of understanding and any comments or affirmations to the Governor for approval of specific funding recommendations.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B8","next_prefix":"D"},"11":{"id":263108,"text":"The Secretary of Finance, in consultation with the other designated reviewers, shall make a recommendation regarding the amount of annual grant payments for which a qualified institution may be eligible pursuant to its memorandum of understanding. In determining the appropriate amount of such grants, the Secretary and designated reviewers shall consider (i) the actual cost of eligible degrees at the qualified institution, (ii) the number of students enrolled in qualified degree programs adjusted for actual graduation rates at the qualified institution, (iii) tuition revenues generated by in-state and out-of-state students in eligible degree programs at the qualified institution, and (iv) the reallocation of other funds held by or appropriated to the qualified institution for eligible new degree programs. A qualified institution shall be eligible to receive grants pursuant to this chapter, and subject to appropriation, upon signature of the memorandum of understanding by the Governor.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"12":{"id":263109,"text":"A qualified institution with an approved memorandum of understanding may request an update to its memorandum of understanding no more than once annually and no later than July 1 of each year. The designated reviewers shall review the request and determine if an update is warranted. The Secretary of Finance, in consultation with the other designated reviewers, may request that a qualified institution update its agreement at any point during the year. No amendment to a memorandum of understanding shall be final until signed by the Governor.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"13":{"id":263110,"text":"A new or amended memorandum of understanding shall be approved and signed pursuant to subsection D no later than November 1 in order for a qualified institution to apply for a grant in the next fiscal year.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":16628,"edition_id":1,"name":"Tech Talent Investment Program","identifier":"12.1","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 04:28:24","date_modified":"2026-06-26 04:28:24","permalink":{"id":185897,"object_type":"structure","relational_id":16628,"identifier":"12.1","token":"23.1\/III\/12.1","url":"\/23.1\/III\/12.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14060,"edition_id":1,"name":"Management and Financing","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":13111,"metadata":{},"date_created":"2026-06-26 03:46:44","date_modified":"2026-06-26 03:46:44","permalink":{"id":185513,"object_type":"structure","relational_id":14060,"identifier":"III","token":"23.1\/III","url":"\/23.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13111,"edition_id":1,"name":"Institutions of Higher Education; Other Educational and Cultural Institutions","identifier":"23.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":184581,"object_type":"structure","relational_id":13111,"identifier":"23.1","token":"23.1","url":"\/23.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":82449,"structure_id":16628,"section_number":"23.1-1239","catch_line":"Definitions","url":"\/23.1-1239\/","token":"23.1\/III\/12.1\/23.1-1239","metadata":false},{"id":81733,"structure_id":16628,"section_number":"23.1-1240","catch_line":"Tech Talent Investment Fund created","url":"\/23.1-1240\/","token":"23.1\/III\/12.1\/23.1-1240","metadata":false},{"id":73066,"structure_id":16628,"section_number":"23.1-1241","catch_line":"Approval and update of memorandum of understanding","url":"\/23.1-1241\/","token":"23.1\/III\/12.1\/23.1-1241","metadata":false},{"id":81590,"structure_id":16628,"section_number":"23.1-1242","catch_line":"Eligibility for grant payments","url":"\/23.1-1242\/","token":"23.1\/III\/12.1\/23.1-1242","metadata":false},{"id":75379,"structure_id":16628,"section_number":"23.1-1243","catch_line":"Annual report","url":"\/23.1-1243\/","token":"23.1\/III\/12.1\/23.1-1243","metadata":false}],"previous_section":{"id":81733,"structure_id":16628,"section_number":"23.1-1240","catch_line":"Tech Talent Investment Fund created","url":"\/23.1-1240\/","token":"23.1\/III\/12.1\/23.1-1240","metadata":false},"next_section":{"id":81590,"structure_id":16628,"section_number":"23.1-1242","catch_line":"Eligibility for grant payments","url":"\/23.1-1242\/","token":"23.1\/III\/12.1\/23.1-1242","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1241\/","history_text":"

This law was first created in 2019. The record of its establishment is cataloged in chapters 638<\/a> and 639<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":81590,"section_number":"23.1-1242","catch_line":"Eligibility for grant payments","order_by":null,"url":"\/23.1-1242\/"}],"refers_to":false,"permalink":{"id":185907,"object_type":"law","relational_id":73066,"identifier":"23.1-1241","token":"23.1\/III\/12.1\/23.1-1241","url":"\/23.1-1241\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1241\/","token":"23.1\/III\/12.1\/23.1-1241","dublin_core":{"Title":"Approval and update of memorandum of understanding","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1241","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In order<\/span> to support the goal of the creation of at least 25,000 new eligible degrees<\/span> by 2039, the amount of grants<\/span> available under this chapter shall be calculated in accordance with a memorandum of understanding<\/span> negotiated with each qualified institution<\/span>. Each memorandum of understanding<\/span> shall contain criteria for eligible degrees<\/span>, eligible expenses, and degree production goals for the institution to reach by 2039. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each memorandum of understanding<\/span> shall be structured in accordance with and be consistent with the objectives and purposes of this chapter and the criteria and requirements developed by, and in the form and manner prescribed by, the Secretary of Finance in consultation with the other designated reviewers<\/span>. Such criteria and requirements shall include: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The submission of an enrollment plan by the qualified institution<\/span> detailing the number of eligible degrees<\/span> produced between July 1, 2013, and June 30, 2018; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A detailed plan of (i) how the qualified institution<\/span> proposes to materially increase the enrollment, retention, and graduation of students pursuing eligible degrees<\/span>, (ii) the resources necessary to accomplish such increase in enrollment, retention, and graduation, and (iii) how the qualified institution<\/span> plans to track new enrollment; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> An accounting of the anticipated number of in-state and out-of-state students enrolling in eligible degree<\/span> programs; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The existing capacity of current eligible degree<\/span> programs, and an estimate of the amount of funding necessary to grow the qualified institution<\/span>’s enrollment capacity pursuant to the plan submitted pursuant to subdivision 2; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Where applicable, proposed plans to partner with other qualified institutions<\/span> to provide courses or programs that will lead to the completion of an eligible degree<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Where applicable, existing or proposed articulation agreements with the Virginia Community College System<\/span> to provide guaranteed admission for qualified students with an associate degree for transfer into an eligible degree<\/span> program; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> A proposed reallocation of existing funds<\/span> held by or appropriated to the qualified institution<\/span> to meet increased enrollment, retention, and graduation goals in eligible degree<\/span> programs; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Any other information deemed relevant. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The designated reviewers<\/span> shall review each qualified institution<\/span>’s proposed memorandum of understanding<\/span>, or amendments thereto; provide comments or affirmation to the qualified institution<\/span> by September 1 of the applicable year; and forward the proposed memorandum of understanding<\/span> and any comments or affirmations to the Governor for approval of specific funding recommendations. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Secretary of Finance, in consultation with the other designated reviewers<\/span>, shall make a recommendation regarding the amount of annual grant<\/span> payments for which a qualified institution<\/span> may be eligible pursuant to its memorandum of understanding<\/span>. In determining the appropriate amount of such grants<\/span>, the Secretary and designated reviewers<\/span> shall consider (i) the actual cost of eligible degrees<\/span> at the qualified institution<\/span>, (ii) the number of students enrolled in qualified degree programs adjusted for actual graduation rates at the qualified institution<\/span>, (iii) tuition revenues generated by in-state and out-of-state students in eligible degree<\/span> programs at the qualified institution<\/span>, and (iv) the reallocation of other funds<\/span> held by or appropriated to the qualified institution<\/span> for eligible new degree programs. A qualified institution<\/span> shall be eligible to receive grants<\/span> pursuant to this chapter, and subject to appropriation, upon signature of the memorandum of understanding<\/span> by the Governor. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A qualified institution<\/span> with an approved memorandum of understanding<\/span> may request an update to its memorandum of understanding<\/span> no more than once annually and no later than July 1 of each year. The designated reviewers<\/span> shall review the request and determine if an update is warranted. The Secretary of Finance, in consultation with the other designated reviewers<\/span>, may request that a qualified institution<\/span> update its agreement at any point during the year. No amendment to a memorandum of understanding<\/span> shall be final until signed by the Governor. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> A new or amended memorandum of understanding<\/span> shall be approved and signed pursuant to subsection D no later than November 1 in order<\/span> for a qualified institution<\/span> to apply for a grant<\/span> in the next fiscal year. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPROVAL AND UPDATE OF MEMORANDUM OF UNDERSTANDING (\u00a7 23.1-1241)\n\nA. In order to support the goal of the creation of at least 25,000 new eligible\ndegrees by 2039, the amount of grants available under this chapter shall be\ncalculated in accordance with a memorandum of understanding negotiated with each\nqualified institution. Each memorandum of understanding shall contain criteria\nfor eligible degrees, eligible expenses, and degree production goals for the\ninstitution to reach by 2039.\n\nB. Each memorandum of understanding shall be structured in accordance with and\nbe consistent with the objectives and purposes of this chapter and the criteria\nand requirements developed by, and in the form and manner prescribed by, the\nSecretary of Finance in consultation with the other designated reviewers. Such\ncriteria and requirements shall include:\n\n 1. The submission of an enrollment plan by the qualified institution detailing\n the number of eligible degrees produced between July 1, 2013, and June 30,\n 2018;\n\n 2. A detailed plan of (i) how the qualified institution proposes to materially\n increase the enrollment, retention, and graduation of students pursuing\n eligible degrees, (ii) the resources necessary to accomplish such increase in\n enrollment, retention, and graduation, and (iii) how the qualified institution\n plans to track new enrollment;\n\n 3. An accounting of the anticipated number of in-state and out-of-state\n students enrolling in eligible degree programs;\n\n 4. The existing capacity of current eligible degree programs, and an estimate\n of the amount of funding necessary to grow the qualified institution’s\n enrollment capacity pursuant to the plan submitted pursuant to subdivision 2;\n\n 5. Where applicable, proposed plans to partner with other qualified\n institutions to provide courses or programs that will lead to the completion\n of an eligible degree;\n\n 6. Where applicable, existing or proposed articulation agreements with the\n Virginia Community College System to provide guaranteed admission for\n qualified students with an associate degree for transfer into an eligible\n degree program;\n\n 7. A proposed reallocation of existing funds held by or appropriated to the\n qualified institution to meet increased enrollment, retention, and graduation\n goals in eligible degree programs; and\n\n 8. Any other information deemed relevant.\n\nC. The designated reviewers shall review each qualified institution’s\nproposed memorandum of understanding, or amendments thereto; provide comments or\naffirmation to the qualified institution by September 1 of the applicable year;\nand forward the proposed memorandum of understanding and any comments or\naffirmations to the Governor for approval of specific funding recommendations.\n\nD. The Secretary of Finance, in consultation with the other designated\nreviewers, shall make a recommendation regarding the amount of annual grant\npayments for which a qualified institution may be eligible pursuant to its\nmemorandum of understanding. In determining the appropriate amount of such\ngrants, the Secretary and designated reviewers shall consider (i) the actual\ncost of eligible degrees at the qualified institution, (ii) the number of\nstudents enrolled in qualified degree programs adjusted for actual graduation\nrates at the qualified institution, (iii) tuition revenues generated by in-state\nand out-of-state students in eligible degree programs at the qualified\ninstitution, and (iv) the reallocation of other funds held by or appropriated to\nthe qualified institution for eligible new degree programs. A qualified\ninstitution shall be eligible to receive grants pursuant to this chapter, and\nsubject to appropriation, upon signature of the memorandum of understanding by\nthe Governor.\n\nE. A qualified institution with an approved memorandum of understanding may\nrequest an update to its memorandum of understanding no more than once annually\nand no later than July 1 of each year. The designated reviewers shall review the\nrequest and determine if an update is warranted. The Secretary of Finance, in\nconsultation with the other designated reviewers, may request that a qualified\ninstitution update its agreement at any point during the year. No amendment to a\nmemorandum of understanding shall be final until signed by the Governor.\n\nF. A new or amended memorandum of understanding shall be approved and signed\npursuant to subsection D no later than November 1 in order for a qualified\ninstitution to apply for a grant in the next fiscal year.\n\nHISTORY: 2019, cc. 638, 639.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}