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_ 252 Item Details($) Appropriations($) ITEM 151. First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 and delivery of distance learning and technology-based instruction programs, the Board may create or assist in the creation of; own in whole or in part or otherwise control; participate in or with any entities, public or private; and purchase, receive, subscribe for, own, use, employ, sell, pledge or otherwise acquire or dispose of (i) shares or obligations of, or interests in, any entity organized for any purpose within or outside the Commonwealth and (ii) obligations of any person or corporation. Prior to the execution of any joint venture or innovation agreement, George Mason University shall formally seek and receive approval from the State Council of Higher Education for Virginia and report on whether there will be any impact on current or future operations of the Online Virginia Network Authority. K. The appropriation for the fund source Higher Education Operating in this Item shall be considered a sum sufficient appropriation, which is an estimate of the amount of revenues to be collected for the educational and general program under the terms of the management agreement between George Mason University and the Commonwealth, as set forth in Chapters 76 and 77, 2021 Acts of Assembly, Special Session I. 152. Higher Education Student Financial Assistance (10800) $122,877,744 $124,861,744 $123,262,124 Scholarships (10810) $115,890,428 $117,874,428 $116,052,308 Fellowships (10820) $6,987,316 $7,209,816 Fund Sources: General $81,181,744 $83,165,744 $81,566,124 Higher Education Operating $41,696,000 $41,696,000 Authority: Title 23.1, Chapter 15, Code of Virginia. A. Notwithstanding the provisions of § 4-5.01.5.b) of this Act, George Mason University is hereby authorized to transfer the balance of its discontinued student loan funds to an endowment fund established by the University to be used for undergraduate and graduate students in the Higher Education Student Financial Assistance Program. B. Up to 15 percent of the funding in this item may be used to support Virginia Guaranteed Assistance Program eligible students for (1) priority funding who are enrolled in Data Science and Technology, Science and Engineering, Healthcare and Education programs and (2) as a grant for students in innovative internship programs provided that the institutions has at least one private sector partner and the grant is matched equally by the partner with non-state funding and / or the institution from private funds. C. The appropriation for the fund source Higher Education Operating in this Item shall be considered a sum sufficient appropriation, which is an estimate of the revenue collected to meet student financial aid needs, under the terms of the management agreement between George Mason University and the Commonwealth, as set forth in Chapters 76 and 77, 2021 Acts of Assembly, Special Session I. 153. Financial Assistance For Educational and General Services (11000) $318,335,000 $343,825,000 Eminent Scholars (11001) $1,000,000 $1,000,000 Sponsored Programs (11004) $317,335,000 $342,825,000 Fund Sources: General $2,106,250 $2,106,250 Higher Education Operating $316,228,750 $341,718,750 Authority: Title 23.1, Chapter 15, Code of Virginia. A. 1. Out of this appropriation, $956,250 the first year and $956,250 the second year from the general fund and $5,850,000 the first year and $5,850,000 the second year from nongeneral funds are designated to build research capacity in biomedical research and biomaterials engineering. 2. Out of this appropriation, $750,000 the first year and $750,000 the second year from the general fund is designated for applied research in simulation modeling and gaming. B. Out of this appropriation, $125,000 the first year and $125,000 the second year from the