The University Host Community Services Act mandates that institutions of higher education with an enrollment exceeding 2,000 full-time equivalent students make annual community service contributions to the municipalities in which they are located. This contribution is intended to help cover the costs incurred by these municipalities for essential services such as police, fire, emergency medical services, dispatch, traffic control, and event management, which are impacted by the presence of the institution's student population and activities. The bill establishes a formula for calculating the contribution based on a per-student rate and the number of full-time equivalent students, with provisions for institutions to receive credits for certain community benefits they provide.

Payments are to be made quarterly, and any contributions not paid within 60 days of the fiscal year-end will accrue interest. Additionally, municipalities are required to transfer five percent of the contributions received to the county where the institution is located. The bill also allows for a reduction in the required contribution for institutions that maintain a campus police department and provides for adjustments based on documented community benefits. The Department of the Treasury, in consultation with other relevant departments, is tasked with adopting regulations to implement the provisions of the act.