MS SB2050

Board of Trustees of State Institutions of Higher Learning must use a Performance Allocation Model that weights nonresident completed credit hours based on each institution's percentage of nonresident enrollment, effective fiscal year 2019.

Nonresident credit hour weighting ranges from 85% (for 0-10% nonresident enrollment) down to 50% (for 40-100% nonresident enrollment) across five tiered levels.

Difference in state appropriations between the 2013 allocation model and the new weighted model shall be deposited into the Postsecondary Education Financial Assistance Trust Fund.

Funds set aside in the trust fund must be appropriated to supplement the Higher Education Legislative Plan Grant Program and prevent reductions in grant awards.

Board must report annually to Joint Legislative Budget Committee by August 1 detailing each institution's appropriation percentages under both models and nonresident enrollment percentages.