Bill > H1447

This bill modifies the existing endowment match program for public higher education institutions in Massachusetts by removing the "subject to appropriation" language and mandating a $30 million allocation specifically designed to encourage private fundraising. The funding will be distributed as follows: $10 million to the University of Massachusetts, $10 million to state universities, and $10 million to community colleges. If any allocated funds remain unused in the community college or state university categories, those unused funds will be redistributed to the other public higher education sectors, ensuring maximum utilization of the available resources. The bill aims to create a structured approach to supporting public higher education institutions by providing them with matching funds to incentivize private fundraising efforts, which can help these institutions enhance their endowment and capital outlay programs. By removing the "subject to appropriation" clause, the bill appears to create a more definitive funding commitment for this program.

Budget and Finance, Education

https://malegislature.gov/Bills/194/H1447