CO SB062

Extends indefinitely the 6% cap on undergraduate resident tuition increases at Colorado state higher education institutions, beginning in fiscal year 2016-17 and each year thereafter.

Colorado School of Mines may increase tuition by the greater of 6% or twice the inflation rate (measured by Consumer Price Index for Denver metropolitan area).

Governing boards may request permission from the Colorado Commission on Higher Education to exceed the 6% limit only in years when general fund appropriations for higher education increase by less than the inflation rate.

Institutions seeking above-cap increases must submit a one-year financial and accountability plan detailing how they will maintain affordability for low- and middle-income students and allocate institutional funds to need-based financial assistance.

Commission has 90 days to approve or deny requests for above-cap tuition increases.