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Committee advances bill to extend carryforward authority for Georgia public higher-education institutions
Summary
The Senate Finance Committee voted to advance a committee substitute (LC610395s) extending an existing carryforward authority that lets University System of Georgia and technical colleges carry limited percentages of certain institutional revenues forward for planning and emergencies.
President Pro Tem introduced committee substitute LC610395s, saying it would extend an existing carryforward policy first enacted in 2003 and repeatedly renewed. He told the committee the bill mainly corrects a scrivener's numbering error and extends sunset provisions for five years.
The measure would continue limits that cap University System of Georgia tuition reserves at 3% and technical colleges at 15%, and it codifies reporting: an annual October report detailing carryover funds and their sources. "This measure allows for better…
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