Senate Bill 10-003 Summary

• Grants Colorado higher education institutions greater flexibility in setting tuition rates for fiscal years 2011-12 through 2015-16, with governing boards able to increase undergraduate in-state tuition up to 9% annually without approval (subject to commission review for increases exceeding 9%).

• Requires the Colorado Commission on Higher Education to develop and submit a new master plan for Colorado postsecondary education by December 15, 2010, addressing accessibility, affordability, funding strategies, alignment with K-12 education, and support for disadvantaged students.

• Shifts higher education financing from formula-based to a single line-item appropriation model based on stipends and fee-for-service contracts, giving governing boards greater control over institutional budgets and operations.

• Provides additional operational flexibility by exempting institutions from certain state fiscal rules, procurement code requirements, and state motor vehicle fleet system requirements when institutions adopt their own fiscal procedures with adequate safeguards.

• Includes provisions allowing the Colorado School of Mines to set tuition independently with specific funding appropriations, expanded capital project acquisition authority for institutions, and modified requirements for executive sessions of governing boards.