This bill provides that, beginning in fiscal year 2025-26 and each fiscal year thereafter, the Legislature must increase the percentage of the Maine Maritime Academy's total state appropriation as a share of its total operating costs by 5% until the percentage of the Maine Maritime Academy's total state appropriation as a share of the academy's total operating costs equals at least the lesser of the percentages of the University of Maine System's and the Maine Community College System's total state appropriation as a share of each respective system's total operating costs. The bill also establishes the Commission to Study the Funding of Public Institutions of Higher Education to review the State's laws and rules related to higher education, analyze past, present and alternative methods and mechanisms of funding public higher education and analyze present and future goals, including expanding access to affordable higher education. The commission is required to submit a report based on its findings to the Joint Standing Committee on Education and Cultural Affairs by December 3, 2025.