HF5299 Summary

• Increases the aggregate principal amount limit for revenue bonds issued by the higher education authority from $1.3 billion to $2 billion.

• Establishes registration fees for new schools ranging from $2,000 for associate degrees to $3,500 for doctorate degrees, plus additional fees for multiple programs and a $600 fee for applications requiring extensive revisions.

• Sets annual renewal registration fee at $1,500 and establishes a $600 additional fee for renewal applications requiring extensive revisions.

• Reduces ALS research funding in fiscal year 2023 from $20 million to $396,000, with $19.604 million allocated for fiscal year 2024 and allows up to $15 million to be distributed through external organizations.

• Appropriates $500,000 in fiscal year 2025 to Minnesota State Colleges and Universities for a Kids on Campus initiative partnering with Head Start programs and community colleges.