Budget Amendment ID: FY2027-S4-699

EDU 699

State Universities Operational Support

Ms. Lovely moved that the proposed new text be amended in section 2, by inserting after item 1596-2501 the following item:

“1596-2601  For additional operational funding for state universities; provided, that funds from this item shall be distributed in accordance with the funding formula in line item 7066-1400 of section 2 of chapter 165 of the acts of 2014; provided further, that funding from this item shall be contingent upon approval of a funding formula that incorporates equity by the board of higher education; provided further, that not later than March 3, 2027, the state universities shall submit a report to the house and senate committees on ways and means on the total balance in all budgeted and off-budget funds; and provided further, that the allocation of funds shall be approved by the board of higher education........................................$12,500,000”