SF 1702

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/17/2023 09:22am

A bill for an act
relating to higher education; establishing a grant program for in-need colleges;
appropriating money; 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.82] GRANT ASSISTANCE FOR IN-NEED SCHOOLS (GAINS).
new text end

new text begin The Board of Trustees of the Minnesota State Colleges and Universities shall establish
a grant program to provide aid to in-need colleges. An in-need college is a two-year college
in which 25 percent or more of the student body are Pell grant eligible. Each in-need college
must receive $750 for each Pell grant eligible student enrolled at the beginning of each
academic year. If sufficient funds do not exist within the appropriation, then the board shall
reduce the grant to provide each in-need college with a grant within the appropriation.
new text end

Sec. 2. new text begin APPROPRIATION.
new text end

new text begin $30,000,000 in fiscal year 2024 and $30,000,000 in fiscal year 2025 are appropriated
from the general fund to the Minnesota State Colleges and Universities for grants to in-need
colleges for the GAINS program under Minnesota Statutes, section 136F.82. Funds remaining
at the end of the biennium must be transferred to the operations and maintenance
appropriation and are available until spent.
new text end