The bill focuses on improving public higher education infrastructure in the commonwealth by allocating $1,250,000,000 for capital improvements, maintenance, and modernization of facilities at state and community colleges, as well as the University of Massachusetts. It includes funding for deferred maintenance, decarbonization, and major capital projects, along with $50,000,000 for repair grants and $20,000,000 for technology initiatives to support remote learning and student services. Additionally, the bill introduces amendments to existing laws regarding the management and disposal of surplus real property, allowing the commissioner of higher education to dispose of such property with board approval and requiring public notification for significant disposals.

Moreover, the bill establishes a new Education and Transportation Innovation and Capital Account within the Education and Transportation Fund for one-time investments in public education and transportation infrastructure. It creates a Higher Education Property Disposition Fund to manage proceeds from real property sales for capital projects addressing maintenance and decarbonization needs. The state treasurer is authorized to issue bonds up to $2.83 billion for public higher education capital expenditures, with provisions ensuring these bonds do not count against debt limits. The bill aims to streamline funding processes and enhance financial security for education and transportation projects while ensuring alignment with campus master plans.

Statutes affected:
Bill Text: 7C-5