Bill > S2183

This bill aims to improve financial stability in higher education institutions in the Commonwealth of Massachusetts. The key provisions include: 1. Requiring institutions with known liabilities or risks that may lead to imminent closure or jeopardize their ability to fulfill obligations to students to notify the Board of Higher Education and submit a contingency closure plan for the Board's approval. This plan must include processes for notifying students and staff, enabling students to complete their programs, and transferring and maintaining student records. 2. Allowing the Board of Higher Education to request information from any degree-granting institution to determine and monitor its financial condition, and to impose reasonable sanctions on institutions that do not comply with the notification and information request requirements. 3. Exempting the information submitted by institutions under this bill from public record disclosure, to protect the confidentiality of the institutions' financial information. 4. Requiring the Board of Higher Education to establish regulations to interpret and apply this section after consulting with representatives of public and private colleges and universities.

Education

https://malegislature.gov/Bills/191/S2183