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Senate bill would tighten oversight of university-linked "HIDAs" after audit finds multimillion-dollar losses
Summary
Sen. Clarence Lam presented legislation requiring the University System of Maryland Board of Regents to report on and adopt policies governing High-Impact Economic Development Activities after an audit found major spending and oversight failures at UMGC-linked entities.
Sen. Clarence Lam urged the Appropriations Committee to approve Senate Bill 439, a bill directing the University System of Maryland Board of Regents to report expenditures and adopt accountability rules for university-created business entities known as High-Impact Economic Development Activities (HIDAs).
The bill stems from a legislative audit of the University of Maryland Global Campus (UMGC), Lam said, which found that UMGC provided roughly $25 million in state funding to create two HIDA entities and later spent about $26 million on a single IT project that proved nonviable. "Of this $26,000,000 in state funding that was spent…
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