Tuition Revenue Pledged By Institution Higher Education

The bill increases, from 10% to 100%, the amount of tuition revenues that a governing board of an institution of higher education or group of institutions of higher education designated as an enterprise may pledge in a contract for the advancement of money.

If an institution of higher education issues a revenue bond and the governing board of the institution wants the bond to be an intercept bond, the bill raises the amount of the pledged revenue for the new intercept bond from not less than 10% of tuition to not less than 100% of tuition if the institution is an enterprise.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)