Gen. appropriation act; designation of add'tl. surplus, repeal of modification to certain programs.

SB 6011 amends Virginia's 2024 special session budget to set aside $45 million from unspent general fund revenues to help offset costs associated with specific state programs. The bill also updates rules for student financial aid at colleges and universities, requiring that all undergraduate grants be awarded only to Virginia residents who are making satisfactory academic progress. Additionally, the legislation mandates that financial aid awards be based primarily on a student's financial need and directs institutions to prioritize funding for students who are on track to complete their degrees in a timely manner. This measure affects the state treasurer, the State Council of Higher Education for Virginia, and students receiving public financial assistance.