Minnesota SF3248 establishes a participation fee for colleges and universities based on asset growth and creates a special revenue fund account.

Minnesota SF3248 introduces a participation fee for colleges and universities with certain asset growth. Eligible institutions must pay a fee based on their per-student assets. The fee is calculated as 15% for assets over $74,999 but not over $150,000, 20% for assets over $150,000 but not over $250,000, and 25% for assets over $250,000. The bill also establishes a higher education endowment growth account in the special revenue fund to deposit the revenues from the fee. This account will hold earnings from the assets until expended.

Minnesota SF3248 establishes a participation fee for colleges and universities based on asset growth and creates a special revenue fund account.

Minnesota SF3248 introduces a participation fee for colleges and universities with certain asset growth. Eligible institutions must pay a fee based on their per-student assets. The fee is calculated as 15% for assets over $74,999 but not over $150,000, 20% for assets over $150,000 but not over $250,000, and 25% for assets over $250,000. The bill also establishes a higher education endowment growth account in the special revenue fund to deposit the revenues from the fee. This account will hold earnings from the assets until expended.