A. For purposes of this section: “Applied sciences program” means a three-year program of educational instruction at the college that incorporates instruction in industrial applied sciences and leads to the conferral of an Associate in Applied Science degree on any person who successfully completes such program. “Apprenticeship program” means a three-year program at the college combining educational instruction and on-the-job training that is established for the purpose of enhancing the education and skills of shipyard workers. “College” means Tidewater Community College. “Industrial applied sciences” may include applied sciences such as welding, burning, blasting, and other applied sciences. “Shipyard worker” means any employee employed full time on a salaried or wage basis, whose tenure is not restricted as to temporary or provisional appointment, at a ship manufacturing or ship repair company located in the Commonwealth.
B. The Virginia Vocational Incentive Scholarship Program for Shipyard Workers is established.
C. From such funds as are appropriated for this purpose and from such gifts, donations, grants, bequests, and other funds as may be received on its behalf, there is created in the state treasury a special nonreverting fund to be known as the Virginia Vocational Incentive Scholarship Program for Shipyard Workers Fund, referred to in this section as “the Fund.” The Fund shall be established on the books of the Comptroller. 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 (i) awarding scholarships to shipyard workers enrolled at the college in the applied sciences program or the apprenticeship program or (ii) the administration and implementation of the applied sciences program or the apprenticeship program or both. 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 president of the college.
D. Subject to the Council’s authority to approve or disapprove all new academic programs as provided in subdivision 5 of § 23.1-203, the college may offer an applied sciences program and coordinate such program with an apprenticeship program offered to shipyard workers by their employers.
E. Beginning in the calendar year that the Council approves an applied sciences program and for calendar years thereafter, shipyard workers who are Virginia students enrolled full-time or part-time in the applied sciences program are eligible for scholarships for such program. Renewal of the scholarships of such shipyard workers is contingent upon maintaining (i) enrollment in the applied sciences program, (ii) a cumulative grade point average of at least 3.0 on a scale of 4.0 or its equivalent at the completion of each academic year, and (iii) full-time employment as a shipyard worker.
F. The college shall award scholarships to eligible students in the applied sciences program or the apprenticeship program for no more than three academic years. Scholarship amounts shall not exceed full tuition and required fees relating to such academic program or the apprenticeship program.
G. Before any scholarship is awarded in accordance with the provisions of this section, the scholarship recipient shall sign a promissory note under which he agrees (i) to continue full-time employment as a shipyard worker until his graduation and (ii) upon graduation, to work continuously as a shipyard worker for the same number of years that he was the beneficiary of the scholarship. The college shall recover the total amount of funds awarded as a scholarship, or the appropriate portion thereof, including any accrued interest, if the scholarship recipient fails to honor such requirements.
H. The Council shall adopt regulations for the implementation of the provisions of this section.