SB 761

Abstract

Requires each post-secondary institution of education that receives state moneys to make institution's budgets and expenditures publicly available on institution's website. Allows Legislative Assembly to disapprove of individual expenditures proposed by public universities. Prohibits public university from making disapproved expenditure. Requires each post-secondary institution of education that receives state moneys to inform students of expected costs to attend institution and to be responsible for set percentages of federal loans taken by students attending institution who default on loans. Requires each post-secondary institution of education that receives state moneys to devote at least 35 percent of budget, with exceptions, to paying for full-time faculty instruction. Requires post-secondary institutions of education that receive state moneys to publicly post on website details of each gift in excess of $10,000 from foreign entity or contract entered into with foreign entity in excess of $10,000.