CT
Connecticut Senate Bill SB00393

Connecticut 2015 Regular Session

Connecticut Senate Bill SB00393 Compare Versions

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1-Substitute Senate Bill No. 393
1+General Assembly Substitute Bill No. 393
2+January Session, 2015 *_____SB00393HED___032415____*
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3-Public Act No. 15-231
4+General Assembly
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5-AN ACT REQUIRING A REPORT CONCERNING INSTITUTIONAL FINANCIAL AID FROM THE UNIVERSITY OF CONNECTICUT AND THE BOARD OF REGENTS FOR HIGHER EDUCATION.
6+Substitute Bill No. 393
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8+January Session, 2015
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10+*_____SB00393HED___032415____*
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12+AN ACT CONCERNING A CAP ON THE ADMINISTRATIVE EXPENSES OF THE BOARD OF REGENTS FOR HIGHER EDUCATION AND THE UNIVERSITY OF CONNECTICUT.
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714 Be it enacted by the Senate and House of Representatives in General Assembly convened:
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9-Section 1. (NEW) (Effective July 1, 2015) Not later than November 1, 2015, and annually thereafter, The University of Connecticut and the Board of Regents for Higher Education shall submit a report, in accordance with the provisions of section 11-4a of the general statutes, to the joint standing committee of the General Assembly having cognizance of matters relating to higher education describing how institutional financial aid was awarded to its undergraduate students during the previous academic year. Such report shall include, but need not be limited to, a separate description for in-state and out-of-state students of the aggregate amount of institutional (1) financial aid funding available, (2) need-based financial aid awarded, and (3) merit-based financial aid awarded.
16+Section 1. (Effective July 1, 2015) (a) For the Board of Regents for Higher Education, for the fiscal years ending June 30, 2016, and June 30, 2017, expenditures for institutional administration, defined as system office, executive management, fiscal operations and general administration, exclusive of expenditures for logistical services, administrative computing and development, shall not exceed three and thirty-five hundredths per cent and three and thirty-five hundredths per cent, respectively, of the annual General Fund appropriation and operating fund expenditures, exclusive of capital bond and fringe benefit funds.
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18+(b) For The University of Connecticut, for the fiscal years ending June 30, 2016, and June 30, 2017, expenditures for institutional administration, defined as system office, executive management, fiscal operations and general administration, exclusive of expenditures for logistical services, administrative computing and development, shall not exceed three and thirty-five hundredths per cent and three and thirty-five hundredths per cent, respectively, of the annual General Fund appropriation and operating fund expenditures, exclusive of capital bond and fringe benefit funds.
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23+This act shall take effect as follows and shall amend the following sections:
24+Section 1 July 1, 2015 New section
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26+This act shall take effect as follows and shall amend the following sections:
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28+Section 1
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30+July 1, 2015
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32+New section
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36+HED Joint Favorable Subst.
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38+HED
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40+Joint Favorable Subst.