The bill amends the budget procedure for community colleges in Wyoming by allowing the community college commission to submit an exception budget request for an external cost adjustment to account for inflation. This request can be made every two years starting from the fiscal biennium beginning July 1, 2024. The commission is required to provide necessary information and inflationary cost indices to support the request, which will be reviewed by the joint appropriations committee and the joint education interim committee. Additionally, the commission must identify prior and proposed tuition and fee increases, as well as estimated local revenues used in the funding allocation model.

The bill also establishes a new subsection (g) that outlines the requirements for the external cost adjustment request, including the need for detailed information on operational costs and funding modifications. The funding adjustments determined by the state legislature will be distributed proportionally based on existing funding amounts. The act is set to take effect on July 1, 2023.

Statutes affected:
Introduced: 21-18-203