Bill > H1454

This bill modifies the endowment match program for community colleges by expanding the eligibility for receiving state matching funds. Currently, community colleges could only receive matching funds for specific types of donations, but this bill allows them to receive matching funds for any donations received by their foundations, whether those donations are endowed funds (permanent investments meant to generate ongoing income) or contributions to capital improvement projects. Additionally, the bill removes the word "Private" from a section of the law, which appears to broaden the applicability of the matching program specifically for community colleges. By making these changes, the bill aims to provide more financial flexibility and support for community college foundations, potentially helping them to attract more donations and develop their resources. The bill would take effect immediately upon passage, allowing community colleges to benefit from the expanded matching program right away.

Budget and Finance, Education

https://malegislature.gov/Bills/194/H1454