CT SB00871

Establishes the Endowed Chair Investment Fund administered by the Office of Higher Education to provide grants of $500,000 to $1,000,000 for endowed chairs at University of Connecticut and Connecticut State University System institutions.

Transfers state funds from the investment fund to university foundations rather than the State Treasurer for investment, with foundations maintaining state funds separately as permanently restricted assets and using only interest income to support endowed chairs.

Requires universities to raise matching nonstate contributions before becoming eligible for state grants and restricts interest income use when market value of state funds falls below original principal amount.

Mandates annual reporting by university boards of trustees to the Office of Higher Education detailing expenditures, state and nonstate fund balances, and interest income earned.

Establishes a mandatory endowed chair in infectious diseases at the University of Connecticut Health Center to support faculty research, teaching, and patient care in infectious disease areas including AIDS.