                                 CODE OF VIRGINIA

NUCLEAR EDUCATION GRANT FUND AND PROGRAM (§ 23.1-212.1)

A. As used in this section, &#8220;nuclear education program&#8221; means an
instructional program that leads to a degree or credential that specifically
supports the nuclear power industry, including nuclear engineering and nuclear
welding.

B. There is hereby created in the state treasury a special nonreverting fund to
be known as the Nuclear Education Grant Fund, referred to in this section as
&#8220;the Fund.&#8221; 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 purposes of awarding grants on a competitive basis
pursuant to the Nuclear Education Grant Program established in subsection C.
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 chairman of the Council.

C. There is hereby established the Nuclear Education Grant Program (the
Program), to be administered by the Council, for the purpose of awarding grants
from the Fund on a competitive basis to any public institution of higher
education or private institution of higher education that seeks to establish or
expand a nuclear education program.

D. The Council shall establish such rules, policies, and procedures as it deems
necessary for the administration of the Program, including rules, policies, and
procedures for Program applications and grant awards.

HISTORY: 2023, c. 508.