Massachusetts S832 allocates $20 million to support endowment match programs for public higher education institutions.

Massachusetts S832 amends Section 15E of chapter 15A of the General Laws to ensure at least $20 million is spent on endowment match programs for public higher education institutions. This funding aims to encourage private fundraising for endowments and capital outlays. The bill specifies allocations: $10 million for the University of Massachusetts, $5 million for state universities, and $5 million for community colleges. Unused funds from community colleges and state universities will be redirected to the University of Massachusetts and state universities, respectively.

Massachusetts S832 allocates $20 million to support endowment match programs for public higher education institutions.

Massachusetts S832 amends Section 15E of chapter 15A of the General Laws to ensure at least $20 million is spent on endowment match programs for public higher education institutions. This funding aims to encourage private fundraising for endowments and capital outlays. The bill specifies allocations: $10 million for the University of Massachusetts, $5 million for state universities, and $5 million for community colleges. Unused funds from community colleges and state universities will be redirected to the University of Massachusetts and state universities, respectively.