SECTION 1.  Chapter 15A or the General Laws is hereby amended by striking section 15C.

SECTION 2.  Notwithstanding any general or special law or rule or regulation to the contrary, the Office of State Comptroller shall not charge any public college or university a fee for processing checks that go through HR/CMS.

SECTION 3.  Notwithstanding any general or special law or rule or regulation Public Institutions of Higher Education may elect to pay its payroll tax from either local funds or its state appropriation.

SECTION 4.  Notwithstanding any general or special law to the contrary Foundations established for the benefit of public colleges and universities may enter into any lease agreements permitted by law.

SECTION 5.   Section 4 of Chapter 773 of the Acts of 1960 is hereby amended by striking out paragraph (n) and inserting in place thereof the following:--

(n) To invest any funds held by it pending disbursement in such investments as may be legal investments for funds of the commonwealth or any fiduciary in the commonwealth.

SECTION 6.  Section 15E of chapter 15A of the General Laws, as amended by section 26 of chapter 189 of the acts of 2010, is hereby amended by striking out the second paragraph and inserting in place thereof the following paragraph:-

“Subject to appropriation, the commonwealth shall contribute funds to each institution's recognized foundation in an amount necessary to match private contributions in the current fiscal year to the institutions or a foundation's endowment or capital outlay program based on the following matching formula: subject to appropriation, the commonwealth's contribution shall be equal to $1 for every $2, or $1 for the greater number of dollars established by the board of higher education, privately contributed to the university's board of trustees or a foundation; $1 for every $2, or $1 dollar for such greater number of dollars as may be established by the board of higher education, privately contributed to each state university's board of trustees or foundation; and $1 for every $2, or $1 for such greater number of dollars as may be established by the board of higher education, privately contributed to each community college's board of trustees or foundation.”

SECTION 7.  Said section 15E of chapter 15A shall be further amended by striking the fourth paragraph.