CT SB00870

Replaces "Board of Regents for Higher Education" with "Office of Higher Education" throughout statutes governing higher education programs and administration.

Maintains "Engineering Connecticut" loan reimbursement grant program for engineering graduates newly employed in Connecticut, administered by the Office of Higher Education with up to 2% of funds available for administration and recruitment.

Sustains "You Belong" loan reimbursement grant program for doctoral degree holders employed in economically valuable fields in Connecticut, administered by the Office of Higher Education in consultation with the Department of Economic and Community Development.

Updates green technology, life science, and health information technology loan reimbursement program, allowing reimbursement of up to $2,500 per year or 5% of loans annually, with combined maximums of $5,000 for associate degree holders and $10,000 for bachelor's degree holders.

Restructures endowed chair investment program (effective July 1, 2017) to allow university and state university system foundations to directly invest and manage state funds with annual reporting requirements, rather than having all funds invested by the State Treasurer.