SECTION 1. Section 1B of Chapter 75 of the General Laws, as so appearing, is hereby amended by adding at the end of subsection (f) the following words:- “The value of the tuition credit shall be adjusted annually to ensure the value of said credit is worth no less than 12.5 % of the total student charges for the academic year.”
SECTION 2. Said Section 1B of said Chapter 75, as so appearing, is hereby further amended by striking out subsection (g) and inserting in place thereof the following subsection:-
(g) The board of trustees shall not accept any tuition waivers, grants or scholarships identified in chapter 15A or any other general or special law that are in the form of tuition or fee waivers established on or after July 1, 2016 unless the reduction is accompanied with an appropriation that fully supports the reduction or the reduction is approved by the board of trustees or unless said reduction is secured in a collective bargaining contract.
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