This bill proposes several updates to the Arizona Revised Statutes concerning the Arizona Board of Regents. Key changes include the rephrasing of the board's authority to "administer" and "govern" institutions under its control, replacing the previous language that referred to "administration" and "governance." Additionally, the bill introduces new provisions that require the board to ensure that any increase in tuition or fees for resident undergraduate students does not exceed the percentage change in the metropolitan Phoenix consumer price index during years when the legislature appropriates sufficient funds to cover at least fifty percent of tuition and mandatory fees. It also prohibits tuition increases during the first four years of a student's enrollment.

Furthermore, the bill modifies the structure of the board's reporting requirements and budget processes. It mandates that the board report on graduation and retention rates by university campus annually and clarifies the handling of tuition and fee revenues, ensuring they are deposited into separate subaccounts for each university. The bill also includes new provisions for the board to enter agreements with career technical education districts and to develop common equivalencies for advanced placement and international baccalaureate examinations in collaboration with community colleges. Overall, these updates aim to enhance governance, financial transparency, and educational equity within Arizona's higher education system.

Statutes affected:
Introduced Version: 15-1626