Be it enacted by the General Assembly of Virginia:

1. That §§23.1-3107, 23.1-3109, and 23.1-3118 of the Code of Virginia are amended and reenacted as follows:

§23.1-3107. Institute for Advanced Learning and Research established; duties.

A. The Institute for Advanced Learning and Research (the Institute) is established in Southside Virginia as a political subdivision of the Commonwealth.

B. The Institute shall:

1. Seek to diversify the economy of the Dan River region by engaging the resources of Virginia Polytechnic Institute and State University in partnership with Danville Community College and Averett University and public and private bodies and organizations of the region and Commonwealth;

2. Serve as a catalyst for economic and community transformation by leveraging and brokering resources that support the economic diversity of the Dan River region, particularly within the network economy;

3. Provide a site for the development of the technology and trained workforce necessary for new economic enterprises to flourish in Southside Virginia through the teaching, research, outreach, and technology available from its partner institutions;

4. Expand access to higher education in Southside Virginia by providing for adult and continuing education, workforce training and development, and degree-granting programs, including undergraduate, graduate, and professional programs, through partnerships with the Commonwealth's public institutions of higher education and private institutions of higher education, the City of Danville, Pittsylvania County, and the public schools and the public and private sectors in the region;

5. Serve as a resource and hub for network-related initiatives at all levels of education and in economic development activities;

6. Assist in regional economic and community development efforts by housing and encouraging research and product-related activities and encouraging high-technology economic development in the region;

7. Encourage and coordinate, as appropriate, the development and delivery of programs offered by the educational institutions serving the region; and

8. Subject to the availability of funding other than from general funds, encourage and coordinate the development and delivery of noncredit courses with a focus on statewide and regional critical shortage areas and the needs of industry. Such courses shall include needed adult education and workforce training; and

9. Serve as a resource and referral center by maintaining and disseminating information on existing educational programs, research, and university outreach resources.

§23.1-3109. Powers of the board.

A. The board has, in addition to its other powers, all the corporate powers given to corporations by the provisions of Title 13.1, except in those cases where, by the express terms of its provisions, the law is confined to corporations created under that title. The board may accept, execute, and administer any trust in which it may have an interest under the terms of the instrument creating the trust.

B. The board shall oversee the Institute's educational programs and may enter into and administer agreements with public institutions of higher education and private institutions of higher education to provide continuing education and instructional programs at the Institute through both traditional and electronic modes of delivery. The board shall, subject to the availability of funding other than from general funds, seek opportunities to collaborate with local comprehensive community colleges to meet specialized noncredit workforce training needs identified by industry. However, if local comprehensive community colleges are unable to meet identified industry needs, then the board may seek to collaborate with other education providers or other public or private organizations to provide, or itself may provide, specialized noncredit workforce training independent of local comprehensive community colleges.

C. The board may, on behalf of the Institute, apply for, accept, and expend gifts, grants, or donations from public or private sources to enable it to carry out the purposes of this article.

D. The board may request and accept the cooperation of agencies of (i) the Commonwealth or (ii) the local governing bodies in Southside Virginia in the performance of its duties.

§23.1-3118. Powers of the board.

A. The board has, in addition to such other powers, all the corporate powers given to corporations by the provisions of Title 13.1, except in those cases where, by the express terms of its provisions, this law is confined to corporations created under that title.

B. The board may issue bonds upon the advice of bond counsel and a financial institution with expertise in bonds and investments. Bonds issued under the provisions of this section shall not be deemed to constitute a debt or a pledge of the faith and credit of the Commonwealth or any of its political subdivisions other than the Authority.

C. The board may accept, execute, and administer any trust in which it may have an interest under the terms of any instrument creating the trust.

D. The board may lease property or hold any property for which it may acquire the title and dispose of such property in a manner that will benefit the Authority.

E. The board may enter into agreements with public institutions of higher education and private institutions of higher education in the Commonwealth to provide adult education, continuing education, undergraduate-level education, and graduate-level instructional programs. The board may enter into agreements with local school boards and other entities to provide such programs as it deems necessary and appropriate to carry out the purposes of the Authority. The board shall, subject to the availability of funding other than from general funds, seek opportunities to collaborate with local comprehensive community colleges to meet specialized noncredit workforce training needs identified by industry. However, if local comprehensive community colleges are unable to meet identified industry needs, then the board may seek to collaborate with other education providers to provide or may provide Center-delivered specialized noncredit workforce training independent of local comprehensive community colleges.

F. The board may establish, with such funds as are appropriated for this purpose or made available to it, the Center.

G. Notwithstanding any provision of law to the contrary, any real estate and tangible personal property held or acquired by the board is exempt from any prohibition of the use of noncash assistance as matching funds.

H. The board may, on behalf of the Authority or the Center, apply for, accept, and direct the expenditure of gifts, grants, or donations from public or private sources to enable it to carry out the purposes of this article. Any locality may make gifts and donations of real property, personal property, or money to the Authority.