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_ 633 Item Details($) Appropriations($) ITEM 473. First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 2. Notwithstanding any other provision of law, Memorandum of Understanding (MOU) or provisions therein, funds awarded for the biennium shall be issued based on the amounts shown in the table below and shall not be reduced. The State Council of Higher Education for Virginia and the Virginia Economic Development Partnership, in consultation with staff representatives from participating institutions, the Senate Committee on Finance and Appropriations, the House Committee on Appropriations, the Secretary of Finance, and the Secretary of Education, shall review the methodology to determine any award reduction amounts based on performance and provide recommendations to the Secretary of Finance and designated reviewers as outlined in § 23.1-1241, Code of Virginia. The revised methodology shall be communicated to institutions including a list of frequently asked questions at least one year prior to implementing the change. Institution FY 2026 Allocation Christopher Newport University $751,702 College of William and Mary 1,384,198 George Mason University 4,075,259 James Madison University 685,381 Longwood University 263,415 University of Mary Washington 654,911 Norfolk State University 241,601 Old Dominion University 1,480,916 University of Virginia 1,718,369 University of Virginia's College at Wise 71,328 Virginia Commonwealth University 1,345,125 Virginia Polytechnic Institute & State University 9,695,499 Virginia State University 305,824 George Mason University (Masters) 1,722,478 Virginia Polytechnic Institute & State University (Masters) 3,261,805 Virginia Community College System 1,272,643 Total $28,930,454 474. A. The Oil Overcharge Expendable Trust Fund shall be established on the books of the Comptroller and the interest earned by investment of funds credited to the Oil Overcharge Expendable Trust Fund shall be allocated to such fund periodically. This fund represents the Commonwealth's proportionate share of the recoveries from the Exxon Corporation, Diamond Shamrock Refining and Marketing Company, Stripper Well and the Texaco Corporation litigations, for petroleum pricing violations between 1973 and 1981. B.1. Any expenditure involving oil overcharges by the Exxon Corporation shall be utilized according to regulations and procedures of the five state energy conservation and benefits programs specified in the Warner Amendment (Section 155, P.L. 97-377) to provide restitution to the broad class of parties injured by the alleged overcharges. These programs are: a. Low Income Home Energy Assistance Program, 42 U.S.C. § 8621 et seq. b. State Energy Conservation Program, 42 U.S.C. § 6321 et seq. c. Energy Extension Service, 42 U.S.C. § 7001 et seq. d. Institutional Conservation Program, 42 U.S.C. § 6371 et seq. e. Weatherization Assistance Program, 42 U.S.C. § 6861 et seq. 2. Any expenditure involving oil overcharges from the approved settlement In Re: The Department of Energy Stripper Well Litigation (MDL No. 378) or the approved settlement in the case of the Diamond Shamrock Refining and Marketing Company (Civil Action No. C2-84-1432) shall be utilized to fund one or more energy-related programs which are designed to benefit, directly or indirectly, consumers of petroleum products. These programs shall be limited to: