78470423.1-1309Virginia Decodedhttps://vacode.org2016Institutions Of Higher Education; Other Educational And Cultural InstitutionsPublic Institutions Of Higher EducationGoverning Boards Of Public Institutions Of Higher Education(Effective October 1, 2016) Boards of visitors; baccalaureate public institutions of higher education; intercollegiate athletics programs2015, c. 704, § 23-1.2; 2016, c. 588.http://law.lis.virginia.gov/vacode/23.1-1309/23.1-1000(Effective October 1, 2016) Definitions/23.1-1000/30-133Duties and powers generally/30-133/30-359Intercollegiate Athletics Review Commission; purpose; membership; terms; compensation and expenses/30-359/30-360(Effective October 1, 2016) Review of plans to add a major intercollegiate athletics program or change the division level of an existing intercollegiate athletics program/30-360/30-360(Effective until October 1, 2016) Review of plans to add a major intercollegiate athletics program or change the division level of an existing intercollegiate athletics program/30-360//23.1-1309/23.1/IV/13/23.1-130930-35930-360

section

A

AA1

The Auditor of Public Accounts, in collaboration with the Council, State Comptroller, Department of Planning and Budget, and each institution, shall develop and implement a standardized reporting format for each institution to annually report its intercollegiate athletics revenue and expenses to the Auditor of Public Accounts that shall include treatment of student fees and classification of specific intercollegiate athletics programs and shall require expenses for spirit groups, indirect cost policy requirements, and debt service for previously approved intercollegiate athletics capital outlay projects and other intercollegiate athletics capital outlay projects to be reported on separate lines.section

B

BB1

The subsidy percentage shall not exceed:section

C

CC1

20 percent for NCAA Division I-A institutions affiliated with the Atlantic Coast Conference, Big Ten Conference, Big 12 Conference, Pac-12 Conference, or Southeastern Conference;section

C

1

C1C12

55 percent for NCAA Division I-A institutions affiliated with conferences other than the Atlantic Coast Conference, Big Ten Conference, Big 12 Conference, Pac-12 Conference, or Southeastern Conference;section

C

2

C2C22

70 percent for NCAA Division I-AA institutions;section

C

3

C3C32

78 percent for NCAA Division I-AAA institutions;section

C

4

C4C42

81 percent for NCAA Division II institutions that operate intercollegiate football programs;section

C

5

C5C52

85 percent for NCAA Division II institutions that do not operate intercollegiate football programs;section

C

6

C6C62

89 percent for NCAA Division III institutions that operate intercollegiate football programs; andsection

C

7

C7C72

92 percent for NCAA Division III institutions that do not operate intercollegiate football programs.section

C

8

C8C82

Each fiscal year, any percentage increase in the subsidy at an institution that complies with subsection C shall be matched by a like percentage increase in generated revenue, except that each such institution shall utilize a rolling average of the change in generated revenue and student fees over the immediately preceding five years for the purposes of such calculation.section

D

DD1

When necessary, each institution shall submit to the Governor and the General Assembly for approval a plan that reduces the subsidy in accordance with targets outlined in the plan over a five-year period until the subsidy percentage complies with the requirements of subsection C.section

E

EE1

section

F

FF1

Failure to meet the progress requirements of each plan approved pursuant to subsection E for one year, as determined by the Auditor of Public Accounts, shall result in such reduction of the financial and administrative operations authority granted to the institution pursuant to the Restructured Higher Education Financial and Administrative Operations Act (§ 23.1-1000 et seq.) as the Governor or General Assembly determines.section

G

GG1

Failure to meet the progress requirements of each plan approved pursuant to subsection E for two consecutive years, as determined by the Auditor of Public Accounts, shall result in revocation of all financial and administrative operations authority granted to the institution pursuant to the Restructured Higher Education Financial and Administrative Operations Act (§ 23.1-1000 et seq.).section

H

HH1

section

I

II1