This bill amends Minnesota Statutes 2024, section 136A.121, to make for-profit institutions ineligible for the state grant program. It introduces a new subdivision, Subd. 1a, which defines "eligible institution" as a private institution that must be operated on a not-for-profit basis to qualify for the program. This change aims to ensure that state financial support is directed only to institutions that align with the not-for-profit model.

Additionally, the bill specifies that the new eligibility criteria will take effect starting in the fall 2026 academic term. This timeline allows for a transition period for institutions to adjust to the new regulations regarding their operational status in relation to state funding.

Statutes affected:
Introduction: 136A.121