Literary Fund Loans
The Literary Fund is a permanent and perpetual school fund established in the Constitution of Virginia. Revenues to the Literary Fund are derived primarily from criminal fines, fees, and forfeitures, unclaimed and escheated property, unclaimed lottery winnings and repayments of prior Literary Fund loans. The Literary Fund provides low-interest loans for school construction, grants under the interest rate subsidy program, debt service for technology funding, and support for the state’s share of teacher retirement required by the Standards of Quality.Current Status
Literary Fund Agenda Items approved by the Virginia Board of Education
- Active Projects List-This is an excel spreadsheet. – (last approval October 17, 2019)
- First Priority Waiting List-This is an excel spreadsheet. – (Latest approved list by the Board of Education – July 2020)
- Second Priority Waiting List-This is an excel spreadsheet. – (Latest approved list by the Board of Education – no changes since October 2019)
- Approved Application List-This is an excel spreadsheet. – (Latest approved list by the Board of Education – no changes since July 2020)
Literary Fund Application
- Application for Loan from the Literary Fund of Virginia (XLS)
- Instructions for Downloading (PDF)
- Application package includes:
- Application Checklist (PDF)
- Requisition for Advance from Literary Fund (XLS)
Instructions for Downloading (PDF)
(Please note that as of July 1, 2007, the old Requisition for Advance from Literary Fund form will no longer be accepted. You must use this Excel template.) - Sample Reimbursement Resolution (PDF)
Legislation & Regulations
- Chapter 121, 2007 Acts of Assembly – Code changes relating to the Literary Fund
- Chapter 365, 2008 Acts of Assembly – Release of liens held on behalf of Literary Fund prior to July 1, 2007. Also see Superintendent's Memo #70, March 28, 2008
Literary Fund Process Flowchart
Qualifying Uses of Literary Fund Loans
Interest Rate Subsidy Program
- Department Requirements for Interest Rate Subsidy Grant (PDF)
- Interest Rate Subsidy Requisition Form (XLS)
Instructions for Downloading (PDF)
School Construction Options in Virginia
- General Obligation Bonds of the Localities (PDF)
- Direct Literary Fund Loans (PDF)
- Virginia Public School Authority (VPSA)
- Funding Options for School Construction in Virginia (PDF) – January 2008 presentation from the Virginia Public School Authority