                                 CODE OF VIRGINIA

DEFINITIONS (§ 23.1-1239)

As used in this chapter, unless the context requires a different meaning:
		&#8220;Designated reviewers&#8221; means the Secretaries of Education and
Finance, the director of the Department of Planning and Budget, the Executive
Director of the Council, the president of the Virginia Economic Development
Partnership, and the staff directors of the House Committee on Appropriations
and the Senate Committee on Finance and Appropriations, or their designees.
		&#8220;Eligible degree&#8221; means a new bachelor&#8217;s or master&#8217;s
degree, or a certificate issued by a baccalaureate public institution of higher
education in association with a bachelor&#8217;s degree, in the field of
computer science, computer engineering, or other closely related fields of
study, or that otherwise aligns with traded-sector, technology-focused growth
opportunities identified by the Virginia Economic Development Partnership
Authority.
		&#8220;Fund&#8221; means the Tech Talent Investment Fund.
		&#8220;Grant&#8221; means a grant paid from the Tech Talent Investment Fund.
		&#8220;Memorandum of understanding&#8221; means the negotiated instrument
entered into by a qualified institution and the Commonwealth, regardless of
whether the terms of the memorandum of understanding are encompassed or included
within any other institutional partnership or performance agreement required by
law. A memorandum of understanding shall contain criteria for eligible degrees,
eligible expenses, and degree production goals for a period ending in 2039.
		&#8220;New bachelor&#8217;s and master&#8217;s degrees&#8221; means the
awarding of eligible degrees produced by a qualified institution to meet the
degree production goals set forth in a qualified institution&#8217;s memorandum
of understanding.
		&#8220;Qualified institution&#8221; means (i) any associate-degree-granting
public institution of higher education, as defined in § 23.1-100, that has a
transfer plan that culminates in an eligible degree and (ii) any baccalaureate
public institution of higher education, as defined in § 23.1-100.

HISTORY: 2019, cc. 638, 639; 2025, c. 144.