Massachusetts S948 amends the endowment match program to allocate funds to public higher education institutions.

Massachusetts S948 amends the endowment match program to allocate at least $30,000,000 for encouraging private fundraising by public institutions of higher education. The bill specifies that $10,000,000 will be allocated to the University of Massachusetts, $10,000,000 to state universities, and $10,000,000 to community colleges. If funds for community colleges or state universities remain unused, they will be reallocated to the University of Massachusetts. The board of higher education will implement this program to ensure each institution has an opportunity to secure matching funds.

Massachusetts S948 amends the endowment match program to allocate funds to public higher education institutions.

Massachusetts S948 amends the endowment match program to allocate at least $30,000,000 for encouraging private fundraising by public institutions of higher education. The bill specifies that $10,000,000 will be allocated to the University of Massachusetts, $10,000,000 to state universities, and $10,000,000 to community colleges. If funds for community colleges or state universities remain unused, they will be reallocated to the University of Massachusetts. The board of higher education will implement this program to ensure each institution has an opportunity to secure matching funds.