The bill aims to significantly enhance public higher education infrastructure in the commonwealth by allocating a total of $1,250,000,000 for various capital improvement projects, including deferred maintenance, modernization, and decarbonization at state universities and community colleges. Additional funding includes $100,000,000 for adaptive reuse of campus facilities for housing, $80,000,000 for decarbonization plans, and $120,000,000 for student support facilities. It also establishes a grant program with $50,000,000 designated for repairs and improvements at public higher education campuses. The bill introduces new provisions for the disposal of surplus property by public institutions, streamlines the selection process for design services on larger projects, and mandates annual reporting on capital expenditures.

Moreover, the bill amends existing laws to include private nonprofit institutions with federal minority-serving designations and Quincy College in funding initiatives, and it establishes a dedicated higher education income surtax revenue of $100 million per fiscal year. It creates the Higher Education Property Disposition Fund for capital projects focused on decarbonization and maintenance, requiring annual expenditure reporting. The governance structure of the Authority supporting state universities and community colleges is also revised, allowing for the removal of members by the governor and specifying project initiation protocols. The bill mandates a report on deferred maintenance projects exceeding $50 million and authorizes the state treasurer to issue bonds up to $3.105 billion for capital expenditures, emphasizing accountability and strategic planning in addressing infrastructure needs.

Statutes affected:
Bill Text: 7C-5