Virginia Private College Preservation and Maintenance Fund and Program; established, report.

Virginia Private College Preservation and Maintenance Fund and Program established. Establishes the Virginia Private College Preservation and Maintenance Fund and Program, to be administered by the State Council of Higher Education for Virginia in collaboration with the Council of Independent Colleges in Virginia and the Department of Historic Resources, for the purpose of awarding grants on a competitive basis to any nonprofit private institution of higher education whose primary purpose is to provide collegiate, graduate, or professional education and not to provide religious training or theological education to assist with the funding of renovation, restoration, repair, preservation, and deferred maintenance projects, with certain enumerated conditions such as providing sufficient evidence of matching funds for the project in an amount equal to the amount of the grant to be awarded and providing certain documentation and project monitoring for projects involving certified historic structures, as defined in the bill.