Section 15E of chapter 15A of the General Laws is hereby amended by inserting after the second paragraph the following paragraph:-

Notwithstanding the provisions of this section, subject to appropriation, the commonwealth shall contribute funds to the recognized foundation of a non-profit institution of higher education that provides a 2-year, accredited academic program that grants associate degrees to low income women and that does not charge tuition or fees, in an amount necessary to match private contributions in the current fiscal year to the institution’s 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 privately contributed to the institution’s board of trustees or a foundation, or $1 dollar for such greater number of dollars as may be established by the board of higher education.