CS/SB 7026 — Higher Education Finances
by Appropriations Committee and Appropriations Committee on Education
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Appropriations Committee on Education Committee (AED)
The bill (Chapter 2023-95, L.O.F.) provides additional flexibility for state universities and colleges relating to operations and the use of funds. Specifically, the bill:
· Removes restrictions from these institutions regarding certain uses of carry forward fund balances, including caps on maintenance and remodeling projects and the requirement that funds only be used for nonrecurring operating expenditures;
· Removes cost and gross square feet size maximums that universities must follow for replacement of minor facilities when using Public Education Capital Outlay (PECO) funds; and
· Removes the requirement that universities comply with certain procurement processes and authorizes the Board of Governors to establish procedures and regulations for universities to follow. Such regulations must be developed no later than October 1, 2023.
The bill revises the limitations on annual compensation for state universities and colleges by providing that employees of these institutions may not receive more than $250,000 annually from public funds.
Lastly, the bill provides additional authority for state universities and colleges to waive certain fees. Specifically, the bill adds a new fee waiver allowing a state university or college to waive the out-of-state fee for a student who is an intercollegiate athlete receiving an athletic scholarship. In addition, the bill adds colleges to existing fee waiver authority for state universities that will allow colleges to waive any application, tuition, or related fees for persons who supervise student interns and for persons 60 years of age or older who are residents of Florida and attend classes for credit.
These provisions were approved by the Governor and take effect July 1, 2023.
Vote: Senate 37-0; House 109-0