A. The Board and the State Board for Community Colleges shall establish the College and Career Ready Virginia Program.
B. The purpose of the Program is to offer consistent, structured opportunities for all qualified high school students in the Commonwealth to enroll in postsecondary coursework offered by a comprehensive community college that is creditable toward high school completion and a certificate or degree from a public institution of higher education. Academic credits earned through the Program shall enable students to complete a postsecondary credential in less time and at lower cost.
C. There is hereby created in the state treasury a special nonreverting fund to be known as the College and Career Ready Virginia 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 purpose of administering the Program. 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 Chancellor of the System and the Superintendent.
D. Comprehensive community colleges, the Online Virginia Network Authority, and local school boards shall not charge qualified high school students tuition or fees for enrolling and participating in Program courses.