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Senators debate pilot program allowing universities to capture development revenue on surplus campus land
Summary
Senate Bill 129 would let a public university designate a single higher-education development area on existing university-owned surplus land (75 acres or less) and capture 80% of privilege-tax revenue from the designated area; the committee discussed pilot limits, conflict-of-interest safeguards and immediate effective-date language.
Senate Bill 129, described in committee as a pilot program, would let a public higher-education institution designate a higher-education development area on university-owned surplus land and capture a portion of revenue generated by development there.
Senator (presenting) said the program is intended to let universities leverage revenue from development on surplus campus land to pay for capital projects, operations, maintenance and other institution priorities. Key constraints in the bill: the development area must be on property the university currently owns (not newly…
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