This bill requires that, beginning July 1, 2026, each campus of the University of Maine System be funded at no less than 95% of the funding that the campus's peer institution receives on a per student basis. Beginning July 1, 2027, each campus of the University of Maine System must be funded at no less than 100% of the funding that the campus's peer institution receives on a per student basis. For the purposes of these provisions, the bill provides that peer institutions are determined by the trustees for each campus of the University of Maine System. The bill also requires that, beginning July 1, 2025, the minimum hourly wage at the University of Maine System be equal to 125% of the State's minimum hourly wage. The bill also provides ongoing funds to support a 6% increase in funding for fiscal year 2025-26 and an additional 4% increase in funding for fiscal year
2026-27 to support the continuation of current University of Maine System operations.