The College Finance Transparency Act mandates that institutions of higher education under the control of the state board of regents publicly disclose detailed financial information on their internet sites. This includes budgets, expenditures, vendors, and written contracts valued at $1,000 or more. The bill outlines specific accessibility requirements, such as ensuring the information is easily searchable and available without user registration. Institutions must also update this information regularly and maintain it for at least ten years.

Additionally, the bill specifies the types of information that must be included in the disclosures, such as annual budgets for administrative units, budgeted salary reports, and details on expenditures related to diversity, equity, and inclusion. A comprehensive transaction register documenting all funds expended is also required, with certain protections in place to redact information prohibited from public disclosure by law. The provisions of this act will take effect on December 1, 2025.