Be it enacted by the General Assembly of Virginia:
1. That § 23-9.2:3 of the Code of Virginia is amended and reenacted as follows:
§ 23-9.2:3. Power of governing body of educational institution to establish rules and regulations; offenses occurring on property of institution; state direct student financial assistance.
A. In addition to the powers now enjoyed by it, the board of visitors or other governing body of every educational institution shall have the power:
1. To establish rules and regulations for the acceptance and assistance of students except that (i) individuals who have failed to meet the federal requirement to register for the selective service shall not be eligible to receive any state direct student assistance; (ii) the accreditation status of a Virginia public high school shall not be considered in making admissions determinations for students who have earned a diploma pursuant to the requirements established by the Board of Education; and (iii) the governing boards of the four-year institutions shall establish policies providing for the admission of certain graduates of Virginia community colleges as set forth in § 23-9.2:3.02.
2. To establish rules and regulations for the conduct of students while attending such institution.
3. To establish programs, in cooperation with the State Council of Higher Education and the Office of the Attorney General, to promote compliance among students with the Commonwealth's laws relating to the use of alcoholic beverages.
4. To establish rules and regulations for the rescission or restriction of financial aid, within the discretionary authority provided to the institution by federal or state law and regulations, and the suspension and dismissal of students who fail or refuse to abide by such rules and regulations for the conduct of students.
5. To establish rules and regulations for the employment of professors, teachers, instructors and all other employees and provide for their dismissal for failure to abide by such rules and regulations.
6. To provide parking and traffic rules and regulations on property owned by such institution.
7. To establish guidelines for the initiation or induction into any social fraternity or sorority in accordance with § 18.2-56.
B. No board of visitors or other governing body of an educational institution shall have the authority to establish rules or regulations limiting or abridging the ability of a student who possesses a valid concealed handgun permit issued pursuant to § 18.2-308 from lawfully carrying a concealed handgun. However, boards of visitors or other governing bodies of educational institutions may establish such rules or regulations relating to (i) students receiving military training in the Reserved Officers' Training Corps or other military training program administered by the educational institution, (ii) students engaging in athletic events, and (iii) the storage of firearms in campus dormitories.
The governing bodies of the public institutions of higher education shall assist the State Council of Higher Education in enforcing the provisions related to eligibility for financial aid.