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Regents board approves $13M obligation to protect multiyear contracts as constitutional repeal looms
Summary
The Board of Regents approved a staff recommendation to obligate up to $13 million from reserves to cover multiyear grants and federal matching commitments if a constitutional amendment (Act 2 22) passes and liquidates the LEQTF‑funded support fund; staff warned unobligated funds would be swept on the day of any affirmative public vote.
Board staff briefed members on a contingency plan to protect ongoing contracts and federal matching obligations tied to the Board of Regents Support Fund.
Miss Carrie Robinson (support‑fund staff) summarized the FY27 plan and noted a pending constitutional referendum, Act 2 22 of 2025, scheduled for a statewide vote on May 16, 2026. The legislation as described in the meeting would repeal the trust fund that underpins the support fund and, if approved by voters, would…
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