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SESSION ENROLLED VIRGINIA ACTS OF ASSEMBLY –– CHAPTER E An Act to amend and reenact § 23.1-903.4 of the Code of Virginia, relating to Innovative Internship Program;
VIRGINIA ACTS OF ASSEMBLY -- 2022 SESSION CHAPTER 420 An Act to amend and reenact § 23.1-903.4 of the Code of Virginia, relating to Innovative Internship Program;
R O [S 667] Approved L L Be it enacted by the General Assembly of Virginia:
[S 667] Approved April 11, 2022 Be it enacted by the General Assembly of Virginia:
E § 23.1-903.4.
§ 23.1-903.4.
D Innovative Internship Fund (the Fund).
A.
There is hereby created in the state treasury a special nonreverting fund to be known as the Innovative Internship Fund (the Fund).
Interest earned on moneys in the Fund shall remain in the Fund and be credited to it.
Interest earned on including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund.
Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund.
Expenditures and disbursements from thB Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request6signed by B.
Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Director of the Council.
B.
The purpose Ef the Program is to expand paid or credit-bearing student internship and other work-based learning R opportunities in collaboration with Virginia employers.
The purpose of the Program is to expand paid or credit-bearing student internship and other work-based learning opportunities in collaboration with Virginia employers.
(ii) explore internship programs;
(ii) explore strategies in Virginia and elsewhere on successful institutional, regional, statewide or sector-based internship programs;
(ii) support initiatives to attract and retain talent in the development;
(ii) support initiatives to attract and retain talent in the Commonwealth;
(iii) support research and research commercialization in sectors and clusters targeted for development;
(v) enhance the jobted for readiness of students;
(v) enhance the job readiness of students;
The Council shall partner with the Office of Education and Labor Market Alignment to collect and utilize data that includes the gaps that are most significant in hindering the Commonwealth from achieving the goals listed in subdivision B 2.
The Council shall partner with the Office of Education and Labor Market Alignment to collect and utilize data that includes the gaps that are most significant in hindering the Commonwealth from achieving the goals listed in subdivision 2.
(i) state or regional workforce needs for which the lack of work-based learning opportunities is negatively impacting the success of regional economic growth and underemployed, that would benefit from incorporating work-based learning into the curriculum.
(i) state or regional workforce needs for which the lack of work-based learning opportunities is negatively impacting the success of regional economic growth and diversification plans and (ii) degree programs, the graduates of which describe themselves as underemployed, that would benefit from incorporating work-based learning into the curriculum.
(b) redesigning of curricula atpublic institutions of higher education;
(b) redesigning of curricula at public institutions of higher education;
(e) providing or participated in the Program at lower rates, may intern at small Virginia-based employers;
(e) providing or raising funds to provide matching funds so that students with limited resources, who have traditionally participated in the Program at lower rates, may intern at small Virginia-based employers;
and (f)onally enhancing data collection and analysis.
and (f) enhancing data collection and analysis.
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