Virginia Code 23.1-1239: Definitions
As used in this chapter, unless the context requires a different meaning:
Terms Used In Virginia Code 23.1-1239
- Associate-degree-granting public institution of higher education: includes Richard Bland College and each comprehensive community college. See Virginia Code 23.1-100
- Baccalaureate: means that bachelor's degrees or more advanced degrees, or both, are granted. See Virginia Code 23.1-100
- Council: means the State Council of Higher Education for Virginia. See Virginia Code 23.1-100
- Eligible degree: means a new bachelor's or master's degree, or a certificate issued by a baccalaureate public institution of higher education in association with a bachelor'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. See Virginia Code 23.1-1239
- Fund: means the Tech Talent Investment Fund. See Virginia Code 23.1-1239
- Grant: means a grant paid from the Tech Talent Investment Fund. See Virginia Code 23.1-1239
- Memorandum of understanding: 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. See Virginia Code 23.1-1239
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Public institution of higher education: includes the System as a whole and each associate-degree-granting and baccalaureate public institution of higher education in the Commonwealth. See Virginia Code 23.1-100
- Qualified institution: means (i) any associate-degree-granting public institution of higher education, as defined in § 23. See Virginia Code 23.1-1239
“Designated reviewers” means the Secretaries of Education and Finance, the director of the Department of Planning and Budget, the 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.
“Eligible degree” means a new bachelor’s or master’s degree, or a certificate issued by a baccalaureate public institution of higher education in association with a bachelor’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.
“Fund” means the Tech Talent Investment Fund.
“Grant” means a grant paid from the Tech Talent Investment Fund.
“Memorandum of understanding” 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.
“New bachelor’s and master’s degrees” means the awarding of eligible degrees produced by a qualified institution to meet the degree production goals set forth in a qualified institution’s memorandum of understanding.
“Qualified institution” 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.