This is not the official budget document.

Budget Summary FY2012

Outside Section 24
Data Current as of:  7/11/2011




Previous Outside Section Next Outside Section

 

Higher Education Endowment Match Program

SECTION 24.   Section 15E of chapter 15A of the General Laws is hereby amended by striking out the second paragraph, as amended by section 26 of chapter 189 of the acts of 2010 and inserting in place thereof the following paragraph:-

Subject to appropriation, the commonwealth shall contribute funds to each institution's recognized foundation in an amount necessary to match private contributions in the current fiscal year to the institution's or a foundation's endowment or capital outlay program based on the following matching formula: subject to appropriation, the commonwealth's contribution shall be equal to $1 for every $2 privately contributed to the university's board of trustees or a foundation; $1 for every $2, or $1 dollar for such greater number of dollars as may be established by the board of higher education, privately contributed to each state university's board of trustees or foundation; and $1 for every $2, or $1 for such greater number of dollars as may be established by the board of higher education, privately contributed to each community college's board of trustees or foundation.