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House panel adopts higher‑education H‑1 that reshapes university support, funds large one‑time scholarship deposits
Summary
The subcommittee adopted the H‑1 substitute for HB 4,580, restructuring university appropriations by creating campus investment funds with endowment‑based reductions, removing some ongoing grants, and funding a revised Michigan Achievement Scholarship with large one‑time deposits.
The House Appropriations Subcommittee on Higher Education and Community Colleges adopted the H‑1 substitute for House Bill 4,580 and reported it with a recommendation that it pass.
Perry Zylak of the House Fiscal Agency summarized major changes in the House substitute for university appropriations, noting the substitute creates a campus investment fund and redirects funding into a restructured Michigan Achievement Scholarship. "The House includes a net decrease of $828,100,000 gross, or a $1,200,000,000 general fund reduction for university appropriations," Zylak said, explaining that the House removed $1,650,000,000 gross of ongoing operational grants and replaced some support with a campus investment fund limited to infrastructure, technology, equipment, maintenance, safety and capital debt reduction. Zylak said distribution of that fund is…
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