HF 2973

as introduced - 89th Legislature (2015 - 2016) Posted on 03/14/2016 03:14pm

A bill for an act
relating to higher education; establishing a statutory leveraged equipment
program for the Minnesota State Colleges and Universities; requiring a report;
proposing coding for new law in Minnesota Statutes, chapter 136F.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [136F.597] LEVERAGED EQUIPMENT PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Definition. new text end

new text begin For purposes of this section, "equipment" means
equipment for instructional purposes for programs that the Board of Trustees determines
would produce graduates with skills for which there is a high employer need within the
state.
new text end

new text begin Subd. 2. new text end

new text begin Program established. new text end

new text begin (a) A leveraged equipment program is established.
The purpose of the program is to provide state funds for equipment acquisitions that match
contributions received from nonstate sources for the equipment.
new text end

new text begin (b) An equipment acquisition may be made using appropriations provided for this
program only if the campus acquiring the equipment has secured an equal or greater cash or
in-kind contribution for the acquisition from a nonstate source. The board may only allocate
state matching funds to a campus in response to the campus's receipt of a nonstate cash or
in-kind contribution for a specific equipment purchase. If appropriations for the program
are insufficient to fully match all nonstate contributions, the board must proportionally
reduce state matching allocations for all equipment acquisitions funded by the program.
new text end

new text begin Subd. 3. new text end

new text begin Legislative report. new text end

new text begin No later than January 15 of each year, the Board of
Trustees shall submit a report to the legislative committees with jurisdiction over higher
education finance and policy on equipment acquisitions under this program. The report
must also list each donor and (1) the amount contributed by the donor or (2) in the case
of an in-kind contribution, the nature and value of the contribution received to date for
purposes of the required match.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2016, and applies to
appropriations made to the board for fiscal years beginning on or after that date, including
the appropriation provided for fiscal year 2017 pursuant to Laws 2015, chapter 69, article
1, section 4, subdivision 3.
new text end