An Act relative to the endowment match program
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes an endowment match program to encourage private fundraising at public colleges and universities in Massachusetts. The program would involve the state matching a portion of private donations received by these institutions, aiming to boost their endowment funds. This initiative seeks to strengthen the financial stability of public higher education by leveraging private contributions. The goal is to increase the overall resources available to universities for scholarships, research, and other vital programs.
Key provisions
- The state will match a percentage of private donations to public college and university endowments.
- The matching funds will be allocated to increase endowment assets.
- Eligible institutions include public four-year colleges and universities in Massachusetts.
- The specific matching percentage would be determined through legislation.
- The program aims to incentivize private fundraising efforts.
- The state will provide funding for the matching program.
Who is affected
- Public colleges and universities in Massachusetts
- Donors to these institutions
- Students receiving scholarships
- Massachusetts taxpayers
Notable changes
- Creates a new state-funded program to match private donations to college endowments.
- Potentially increases the overall financial resources available to public universities.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Michael P. Kushmerek
Cosponsors
Jacob R. Oliveira
Michael P. Kushmerek
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