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AR HB1496
Bill
Status
3/15/2021
Primary Sponsor
Justin Gonzales
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AI Summary
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Adds Arkansas Code 6-60-113 requiring employment contracts for presidents and chancellors of state-supported higher education institutions entered on or after the effective date to include standards for termination for cause.
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Limits contract buyout agreements to a maximum of 12 months' worth of state funds for compensating an outgoing president or chancellor.
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Permits state institutions to authorize outgoing presidents or chancellors to transition to tenured faculty or other agreed-upon employment positions within the institution without violating the buyout cap.
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Allows institutions to compensate outgoing presidents or chancellors with state funds while they serve in faculty or other employment positions within the institution.
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Effective date: March 15, 2021.
Legislative Description
To Specify Terms Regarding Termination And Buyout Agreements That A Contract For Employment For A President And Chancellor Of A State-supported Institution Of Higher Education Shall Include.
Last Action
Notification that HB1496 is now Act 352
3/15/2021