As used in this article, unless the context requires a different meaning: “Board” means the Virginia Board of Workforce Development. “Competency-based” means awarded on the basis of demonstrated knowledge and skills rather than completion of instructional hours or participation in an instructional course or program. “Council” means the State Council of Higher Education for Virginia. “Eligible institution” means a comprehensive community college, the Institute for Advanced Learning and Research, New College Institute, Richard Bland College, Roanoke Higher Education Center, Southern Virginia Higher Education Center, or Southwest Virginia Higher Education Center. “Eligible student” means any Virginia student enrolled at an eligible institution who is domiciled in the Commonwealth as provided in § 23.1-500, as determined by the eligible institution. “Fund” means the New Economy Workforce Credential Grant Fund. “Grant” means a New Economy Workforce Credential Grant. “High-demand field” means a discipline or field in which there is a shortage of skilled workers to fill current job vacancies or anticipated additional job openings. “Industry-recognized” means demonstrating competency or proficiency in the technical and occupational skills identified as necessary for performing functions of an occupation based on standards developed or endorsed by employers and industry organizations. “Noncredit workforce credential” means a competency-based, industry-recognized, portable, and third-party-validated certification or occupational license in a high-demand field. “Noncredit workforce training program” means a program at an eligible institution that leads to an occupation or a cluster of occupations in a high-demand field, which program may include the attainment of a noncredit workforce credential. “Noncredit workforce training program” may include a program that receives funding pursuant to the Carl D. Perkins Career and Technical Education Improvement Act of 2006, P.L. 109-270. “Noncredit workforce training program” shall not include certificates of completion. “Portable” means recognized by multiple employers or educational institutions and, where appropriate, across geographic areas. “Program” means the New Economy Workforce Credential Grant Program. “Third-party-validated” means having an external process in place for determining validity and relevance in the workplace and for continuous alignment of demonstrated knowledge and skills with industry workforce needs.