Higher educational institutions, public; chief executive officer compensation.

Public institutions of higher education; chiefexecutive officer compensation. Provides mandates for when any governing board of a public institution of higher education or committeeof such board considers increasing the compensation of the institution'schief executive officer as defined in § 23.1-100 or amending theboard's policies and procedures relating to the compensation of thechief executive officer. The bill provides that the board or committee shall provide written notice of the rationale for such amendmentor the rationale for, source of funding for, and amount of such increaseto the public in advance of any meeting at which the board or committeevotes on the amendment or increase. The bill also provides that membersof the public shall be provided the opportunity to provide publiccomment on the compensation, that the board or committee shall voteon the compensation in an open meeting, and that no executive compensationincrease shall be approved in a year in which there is a tuitionincrease.