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Committee adopts higher‑education package that shifts large one‑time scholarship deposits and creates campus investment fund tied to tuition restraints
Summary
The House Appropriations Committee reported the H‑1 substitute to House Bill 45 80, altering university funding streams by moving large one‑time deposits into a Michigan Achievement Scholarship fund, establishing a campus investment fund, and imposing tuition restraints and other policy conditions.
The House Appropriations Committee reported the H‑1 substitute to House Bill 45 80, the higher education appropriations bill, adopting a package that retools university funding by placing large one‑time deposits into scholarship funds, creating a campus investment fund, and attaching tuition restraints and policy limitations.
House Fiscal staff described the proposal as a major fund shift that substitutes a large one‑time School Aid Fund deposit for prior general fund university operations. Analysts said the bill removes approximately $1.65 billion in ongoing general‑fund operation grants provided in fiscal year 2025 and replaces those with a mix of restricted School Aid Fund one‑time deposits and a new campus investment fund. The campus investment fund was described as an $828.1 million gross appropriation limited to…
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