Section 16 of chapter 15A of the General Laws is amended by inserting the following section:

Section 4B. The Board of Higher Education shall require all Massachusetts colleges and universities that are authorized to issue associates degrees and/or bachelor’s degrees, public and private, (“Institution”)  to produce annually a report on their fiscal health and stability. The Board of Higher Education shall issue regulations, determine the process for submitting said report, and establish deadlines. Failure to submit such report by the date due shall result in a $100 per day fine. Said report shall include at least the following: size of endowment; size of annual operating budget; percentage of administration that has resigned or been terminated in the past year; percentage of annual operating budget spent on teacher and faculty compensation; breakdown of teachers and faculty identifying numbers of those with tenure, on tenure track, and numbers employed as full-time, salaried contingent faculty, part-time, salaried contingent faculty, adjunct faculty, and graduate student instructors, as well as additional breakdowns for each category identifying how many teach online; disclosure of any plans that have been presented to any formal panel within the Institution to close programs or majors that could affect incoming classes; faculty to student ratio, including any changes in this ratio from the previous year; in-class course hours per course credit, including any changes in this ratio from the previous year; tuition, fees, and other costs for students; graduation rate; transfer rate; and other data as determined by the Board of Higher Education. The Board of Higher Education shall make this information available on its website and in other formats.