On or before December 31, 2027, the act requires the department of higher education (department) to establish thriving institution designations and, on or before January 1, 2027, to establish an advisory committee to provide input to the department on the outcome and recognition standards and continuous improvements set by the department to identify institutions of higher education (institutions) that meet the requirements for one or more thriving institution designations.
     The act requires the department, with input from the advisory committee, to:
Identify institutions that meet the outcome and recognition standards to be designated as a thriving institution;
Notify each institution that meets the outcome standards to be designated as a thriving institution and request the institution to respond within 10 calendar days with the institution's decision of whether to be recognized as a thriving institution;
Post on the department's website the names of the institutions that earn a thriving institution designation and agree to be listed as a thriving institution; and
Notify the general assembly of the names of the institutions that are recognized as thriving institutions.
(Note: This summary applies to this bill as enacted.)