Bill > S2392

This bill aims to support improved financial stability in higher education institutions in Massachusetts. Key provisions include: 1. Establishing a comprehensive training program for members of the boards of trustees of public institutions of higher education, covering topics such as governance, transparency, and fiduciary responsibilities. 2. Requiring public institutions to annually post their financial reports and summaries on their websites in a format understandable to the general public. 3. Authorizing the Board of Higher Education to conduct financial screenings of independent institutions of higher education to identify those at risk of imminent closure, and requiring those institutions to provide financial information and contingency plans for closure. 4. Empowering the Board of Higher Education to impose penalties, such as fines or suspension of state funding, on institutions that fail to comply with the requirements. Overall, the bill seeks to enhance financial oversight, transparency, and accountability in higher education institutions in the state.

https://malegislature.gov/Bills/191/S2392