Bill > S936

This bill modifies the endowment match program for higher education institutions in Massachusetts by removing the "subject to appropriation" language and mandating a specific funding allocation. Specifically, the bill requires at least $20 million to be spent to encourage private fundraising at public higher education institutions, with a detailed breakdown of fund distribution: $10 million allocated to the University of Massachusetts, $5 million to state universities, and $5 million to community colleges. The legislation ensures that each institution has an opportunity to secure matching funds, and includes a flexible reallocation mechanism where unused funds from community colleges can be redirected to state universities, and unused state university funds can be reallocated to the University of Massachusetts. This approach aims to support and incentivize private fundraising efforts across different levels of public higher education in the state, providing a structured financial mechanism to boost institutional endowments and capital outlay programs.

Education

https://malegislature.gov/Bills/194/S936