SPONSOR: Black
This bill requires the Department of Higher Education and Workforce Development (DHEWD) in consultation with public institutions of higher education to develop a funding model for higher education public institutions.
The funding model will provide a level of stable, sustainable resources, be based on the 2023 study commissioned by the Department, include a process for allocation of core appropriations, use a cost-based approach to funding, and include a performance component designed to enhance student success and efficient operations.
The Department will establish a plan for the testing and implementation of the funding model to be approved by the Coordinating Board for Higher Education and submit the plan to the Governor and General Assembly before September 30th of 2025.
A report on the effectiveness of the model test must be submitted to the Speaker of the House, President Pro Tem of the Senate and the Governor before August, 2026. The funding model must be approved by the board before September, 2026 and must be approved by the General Assembly by concurrent resolution.
Beginning in the 2027-28 fiscal year, if approved, the funding model will be used for appropriating funding for public institutions of higher education.
This bill is similar to HB 2905 (2024).
Statutes affected: