Bill > SB545

This bill amends Arkansas state law to expand the powers and financial flexibility of boards of trustees for several state universities. Specifically, the bill allows university boards to acquire, improve, and equip a broader range of facilities and properties beyond traditional buildings, including intangible assets like technologies and infrastructure. The legislation also expands the board's ability to issue negotiable notes or bonds by permitting them to use revenues from campus operations (excluding tax collections) as a funding source. Additionally, the bill grants trustees more comprehensive authority to set rents, tolls, fees, and other charges related to athletic contests and campus facilities, giving them greater discretion in managing university financial resources. The changes apply to boards overseeing the University of Arkansas, Arkansas State University system, University of Central Arkansas, Arkansas Tech University, and Southern Arkansas University, with the goal of providing these institutions more operational and financial flexibility.

Education

https://arkleg.state.ar.us/Bills/Detail?id=sb545&ddBienniumSession=2025%2F2025R