MS SB2058

Eliminates state funding for academic remedial courses for undergraduate students beginning with the 2013-2014 academic year, with costs reimbursed to universities and community colleges through withholding from school district MAEP distributions.

Establishes a performance-based funding formula for state universities and community colleges with phased implementation from 2014-2015 through 2018-2019, gradually increasing outcome-centered funding from 5% to 25% while maintaining needs-based funding at 75%.

Requires the outcome-centered component to measure student progression, retention, graduation, degree completion, research activity, transfer rates, and enrollment of underserved and nontraditional students.

Transfers real property acquisition and disposal authority from institutions and the Board of Trustees of State Institutions of Higher Learning to the Department of Finance and Administration, requiring legislative approval for all property transactions after June 30, 2013.

Removes the University of Mississippi's authority to acquire and dispose of real property on its own behalf, consolidating this power with the Department of Finance and Administration for all state institutions.