VA SB272

Amends Virginia law to allow individuals to possess weapons inside buildings owned or operated by public institutions of higher education when the weapons are part of the institution's curriculum, activities, or authorized organizations, with approval from the institution's law-enforcement or public safety unit

Adds members of cadet corps recognized by public institutions of higher education to the list of those exempt from firearm restrictions while participating in official ceremonial events for the Commonwealth

Maintains existing prohibitions on carrying firearms or explosive materials in Capitol Square, the Virginia Capitol building, and other Commonwealth-owned or leased buildings, with violations remaining a Class 1 misdemeanor

Preserves existing exemptions for law enforcement officers, authorized security personnel, active military, fire marshals with police powers, and various state employees acting in official duties

Requires $50,000 minimum fiscal impact appropriation due to potential net increase in imprisonment periods resulting from the legislation