Bill > SF2719

This bill requires bookstores operated by the Minnesota State Colleges and Universities (MnSCU) and the University of Minnesota (U of M) to implement a price-matching policy for new textbooks, meaning they must match a lower price offered by a competing retailer, defined as any business selling textbooks to students of that institution, excluding individuals reselling textbooks. Additionally, for fiscal years 2018 through 2021, one percent of the state appropriation for operations and maintenance for both the U of M and MnSCU will be withheld unless they can demonstrate a five percent reduction in the average cost of textbooks and related course materials for students in the preceding fiscal year. To achieve this cost reduction goal, both systems must agree on procedures and strategies with state officials by August 1, 2016, which could include implementing textbook buy-back or rental programs, increasing the availability of used textbooks, utilizing open-source materials, placing supplemental materials on library reserve, and encouraging faculty to select lower-cost materials. Progress reports on meeting this goal are due annually, and any funds not made available due to failure to meet the goal will be redirected to the state grant program.