Bill > S2702

This bill modifies the endowment match program for public higher education institutions in Massachusetts by expanding eligibility and funding provisions. Specifically, the bill allows community colleges to receive matching funds for private donations from their foundations, regardless of whether those funds are endowed or for capital outlay purposes. The bill establishes an annual appropriation of $30 million for the program, with predetermined allocations of $10 million each to the University of Massachusetts segment, state university segment, and community college segment. If funds in the community college or state university segments are not used, they can be reallocated to other segments, with unused community college funds going to state universities and unused state university funds going to the University of Massachusetts. The bill also removes language that previously limited private donation matching, effectively creating more flexible funding opportunities for public higher education institutions. Sections 1 and 2 of the bill take effect immediately upon passage, which means the changes to donation matching eligibility will be implemented right away.

Budget and Finance

Joint Committee on Higher Education (Joint)

https://malegislature.gov/Bills/194/S2702