Amends appropriations act to include number of degrees awarded to veterans in Outcomes-Based Allocation funding for senior public institutions of higher education.
Impact
The bill's amendments will potentially alter the funding dynamics among senior public institutions by providing financial incentives for enrolling and graduating veterans. By recognizing the specific achievements of institutions in serving veterans, it aligns state funding with the goal of increasing educational equity and outcomes for underserved populations. Institutions will be required to report on their support for veterans, which could lead to a renewed focus on programs and initiatives that aid veteran students.
Summary
Assembly Bill A3909 amends New Jersey's annual appropriations act for the fiscal year ending June 30, 2022, with a focus on the Outcomes-Based Allocation program for senior public institutions of higher education. The key provision of this bill is the inclusion of the number of degrees awarded to veterans as a critical measurement for the allocation of funding. This aims to ensure that higher education institutions that support and graduate veterans receive appropriate financial resources, thereby promoting educational outcomes for this demographic.
Contention
There may be diverging opinions on this bill. Proponents advocate that recognizing veterans in the funding criteria is a step towards equitable educational support, as veterans often face unique challenges in accessing higher education. Critics might argue that this shift could detract from funding mechanisms that address other pressing issues, such as the support needed for underrepresented ethnic and racial minority groups or students who rely heavily on Pell grants.
Implementation
The bill also stipulates that institutions are required to adopt a predictable pricing guarantee for undergraduate students whose families have an adjusted gross income of up to $65,000, ensuring that financial aid covers tuition and fees for the final years of study. Institutions may also develop alternative pricing models if the outlined financial support proves inadequate, thereby integrating an adaptable approach to funding allocation while pursuing educational equity.
Makes supplemental appropriation of $144.2 million to provide additional Outcomes-Based Allocation funding to four-year public institutions of higher education.
Makes supplemental appropriation of $144.2 million to provide additional Outcomes-Based Allocation funding to four-year public institutions of higher education.
Establishes Clean Energy Technology Center and Alternative and Clean Energy Investment Trust Fund for purposes of creating clean energy-related employment opportunities; allocates revenues from societal benefits charge to support its activities.
Establishes Clean Energy Technology Center and Alternative and Clean Energy Investment Trust Fund for purposes of creating clean energy-related employment opportunities; allocates revenues from societal benefits charge to support its activities.
Relating to operation of the Texas small and rural community success fund program administered by the Texas Economic Development Bank as successor to the Texas leverage fund program and to creation of the micro-business disaster recovery loan guarantee program.