Bill > S919

This bill modernizes the endowment match program for community colleges by expanding the eligibility for state matching funds. Currently, community colleges are limited in how they can receive matching funds for private donations. The bill allows community colleges to receive state matching funds for any private donations received by their foundations, regardless of whether those funds are endowed (permanently invested) or contributed to a capital outlay program (specific building or infrastructure projects). Additionally, the bill modifies language to specifically exempt community colleges from previous restrictions that applied to private institutions. By making these changes, the legislation aims to provide community colleges with more flexible funding opportunities and potentially encourage greater private donations by offering a more attractive matching incentive. The bill would take effect immediately upon passage, meaning community colleges could benefit from these expanded matching fund provisions right away.

Education

https://malegislature.gov/Bills/194/S919