Bill > HB0107

This bill modifies Utah's higher education capital projects financing system by establishing a new Higher Education Capital Projects Fund and creating a new loan mechanism for institutions of higher education. The bill introduces an allocation formula based on full-time enrollment and facility utilization, and allows degree-granting institutions to request loans from the Legislature starting July 1, 2026, for purchasing property, constructing new buildings, or renovating existing buildings. Institutions must demonstrate they have adequate funding for ongoing operations and maintenance before receiving a loan, which will be repaid with 4% interest over 40 years (though early repayment is allowed without penalty). The fund will be initially funded through dedicated funds, legislative appropriations, and interest earnings, with the funding sources changing after fiscal year 2029. The bill also requires institutions to address how proposed capital development projects will meet job market demands, respond to economic needs, and support training objectives. Additionally, the bill removes some existing definitions and streamlines the process for requesting and prioritizing capital development projects in higher education institutions.

Education

https://le.utah.gov/~2025/bills/static/HB0107.html