SB-0768 Summary

• Appropriates $100.00 for higher education for fiscal year ending September 30, 2015, with this minimal amount functioning as a zero-based budget placeholder for the appropriations act.

• Directs state treasurer to distribute appropriated funds to public universities in 11 equal monthly installments beginning October 16, 2014, with all universities accruing July and August 2015 payments to their fiscal year ending June 30, 2015.

• Requires each public university to submit higher education institutional data inventory (HEIDI) data and financial information to the state budget director by specified deadlines (October 15, 2014 for June 30 fiscal year end; November 15 and December 15, 2014 for September 30 fiscal year end).

• Authorizes state treasurer to withhold monthly installment payments to any public university that fails to submit required HEIDI data and financial aid program information on schedule.

• Removes detailed appropriation breakdowns for individual universities and specific programs from the statutory text, replacing them with placeholder language pending enactment of the full appropriations budget.