Senate Bill 11-140 Summary

• Amends the fiscal year 2010-11 appropriation to the Department of Higher Education with total supplemental funding of $2,944,407,840, including $559,252,232 from the General Fund.

• Provides funding for multiple higher education entities including the Colorado Commission on Higher Education, College Opportunity Fund stipends for 143,804 full-time equivalent students at state institutions at $1,860 per 30 credit hours, and governing boards of all state institutions.

• Allocates $74,144,146 for need-based grants, $16,612,357 for work study, and $20,000,000 for enrollment/tuition and stipend contingency reserves.

• Reduces the FY 2010-11 General Fund appropriation for need-based grants by $15,400,000 as an implementation adjustment.

• Includes funding from multiple sources including Limited Gaming Revenues, Waste Tire Recycling Development Cash Fund, tuition revenue, and federal funds under the American Recovery and Reinvestment Act of 2009.