Subcommittee reports H‑1 substitute for HB 4,580 after debate on campus investment funds and $1.1B scholarship deposit

The House Appropriations Subcommittee on Higher Education and Community Colleges voted to adopt the H‑1 substitute for House Bill 4,580 and reported the substitute with a recommendation that it pass.

Perry Zylak of the House Fiscal Agency presented a detailed summary of the higher education package. Zylak corrected an error in the printed summary, saying the correct gross total for the House bill should be $2,000,000,400,800,000; he said the package represents a 3.4% gross increase overall when measured against the current fiscal year with notable structural shifts.

Key elements Zylak described include: removal of $1,650,000,000 gross in ongoing operations grants for universities; the creation of a campus investment fund limited to infrastructure, technology, equipment, maintenance, safety and capital debt reduction; and a redistribution formula based on fiscal year 2024 resident…