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Committee proposes interim study and funding framework for higher education; considers $49 million-plus in discretionary allocations
Summary
The committee proposed a new interim study to review higher education funding and discussed a package of suggested allocations, including raising the economic-diversification research fund, workforce innovation grants, and enlarging Tier 3 capital-match funding; members agreed to continue discussion and asked staff to prepare bill language.
Chairman Sorvaugh introduced a proposed interim study to examine higher education funding formulas, capital distribution and financial mechanisms. The study as described would include seven voting legislative members (a majority- and minority-leader appointment pattern from each chamber and one member-at-large appointed by legislative management) and multiple nonvoting members drawn from university finance officers and regional representatives.
The chairman laid out a funding proposal intended to balance many individual campus requests without picking discrete projects for every institution. Key elements of the suggested package included increasing the economic diversification research fund from $5.5 million to $8 million (with $800,000 allocated to nine smaller institutions and $7.2 million…
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