Bill > SB231

This bill directs the State Board for Community Colleges and the Virginia Community College System to create a new funding model for community colleges in the Commonwealth, which will balance providing a basic level of financial support with rewarding colleges for achieving specific results. This outcomes-based funding will be tied to measurable improvements in areas like student progress, program completion, earning credentials, post-graduation wages, and continued education. The model is also intended to encourage community colleges to offer programs and services that better serve adult learners, including those over 24, student parents, and students from low-income backgrounds. Furthermore, the bill requires the new model to incorporate best practices from existing programs like the New Economy Workforce Credential Grant Program and the FastForward Program, which have shown positive impacts on student earnings and economic opportunities. The State Board will also explore cost efficiencies through a system-wide shared services approach for business operations, specialized career and technical education, and workforce development programs. The State Board must submit an interim report on their progress by November 1, 2026, and a final report on the completed funding model and implementation plan by November 1, 2027, to relevant legislative committees.

Budget and Finance, Education, Health and Social Services

https://lis.virginia.gov/bill-details/20261/SB231