Tuesday, January 15, 2008
House Budget Committee Advances Bill That Would Let Universities Fund Projects
Amid a budget crunch that could require state colleges and universities to lose hundreds of millions in state dollars, the House budget committee today approved two bills that would allow them to finance projects on their own.
House Bill 111 would allow colleges and universities to issue revenue bonds for capital projects like construction of dorms and research buildings if they cover all the bond costs. The second bill, HB 177, would allow the schools to undertake capital projects funded with cash restricted funds approved by the schools' governing boards and the state without prior state legislative approval.
House Bill 111 would allow colleges and universities to issue revenue bonds for capital projects like construction of dorms and research buildings if they cover all the bond costs. The second bill, HB 177, would allow the schools to undertake capital projects funded with cash restricted funds approved by the schools' governing boards and the state without prior state legislative approval.
# posted by Joe Kinzer @ 8:00 PM 
