Am. Sub. S.B. No. 120 Summary

• Authorizes the Auditor of State to conduct performance audits of state institutions of higher education at the Auditor's discretion, expanding beyond the current requirement of auditing state agencies and other entities.

• Modifies campus housing lease agreements with nonpublic vendors to extend the maximum lease term from thirty to seventy-five years, while maintaining vendor responsibility for operations and maintenance.

• Clarifies College Credit Plus informational session requirements to include all participating colleges that request attendance, not just partnering colleges located within thirty miles of schools.

• Makes appropriations to the Department of Education with total General Revenue Fund allocations of approximately $8.089 billion for fiscal years 2020-2021, including adjustments to Foundation Funding, Educator Preparation, and other educational programs.

• Retains property tax exemption status for all campus housing facilities included in lease agreements, including those constructed by nonpublic vendors under the expanded terms.