| 1 | Representative(s) Hays offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove line(s) 338-367 and insert: |
| 5 | (3)(a) The Board of Governors State Board of Education |
| 6 | shall allocate the amount appropriated to the trust fund to each |
| 7 | university and New College based on the amount of the donation |
| 8 | and the restrictions applied to the donation. |
| 9 | (b) Donations for a specific purpose must be matched in |
| 10 | the following manner: |
| 11 | 1. Each university that raises at least $100,000 but no |
| 12 | more than $599,999 from a private source must receive a matching |
| 13 | grant equal to 50 percent of the private contribution. |
| 14 | 2. Each university that raises a contribution of at least |
| 15 | $600,000 but no more than $1 million from a private source must |
| 16 | receive a matching grant equal to 70 percent of the private |
| 17 | contribution. |
| 18 | 3. Each university that raises a contribution in excess of |
| 19 | $1 million but no more than $1.5 million from a private source |
| 20 | must receive a matching grant equal to 75 percent of the private |
| 21 | contribution. |
| 22 | 4. Each university that raises a contribution in excess of |
| 23 | $1.5 million but no more than $2 million from a private source |
| 24 | must receive a matching grant equal to 80 percent of the private |
| 25 | contribution. |
| 26 | 5. Each university that raises a contribution in excess of |
| 27 | $2 million from a private source must receive a matching grant |
| 28 | equal to 100 percent of the private contribution. |
| 29 | (c) The Board of Governors State Board of Education shall |
| 30 | encumber state matching funds for any pledged contributions, pro |
| 31 | rata, based on the requirements for state matching funds as |
| 32 | specified for the particular challenge grant and the amount of |
| 33 | the private donations actually received by the university for |
| 34 | the respective challenge grant. |
| 35 |
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| 36 | ======= T I T L E A M E N D M E N T ======= |
| 37 | Remove line(s) 47 and 48 and insert: |
| 38 | Gifts; transferring responsibilities |