SB 1157 Summary

• Appropriates $1,578,278,500 for Michigan higher education institutions for fiscal year 2010-2011, with $1,543,378,500 from state general fund/general purpose.

• Allocates funds to three research universities (Michigan State, University of Michigan-Ann Arbor, Wayne State) totaling $876,026,800 and twelve state universities totaling $598,429,800.

• Provides $93,126,400 for student financial aid programs including tuition grants ($31,664,700), tuition incentive program ($37,400,000), and competitive scholarships ($19,861,700).

• Requires universities to develop textbook cost-minimization policies, establish veterans' liaisons, participate in Yellow Ribbon GI Education Enhancement Program, and report tuition/enrollment data to state agencies.

• Establishes reporting requirements for higher education data, student financial aid, textbook policies, and audits; authorizes 23 new degree programs at various universities pending legislative authorization.