S.40 would create a College and University Board of Regents, which is meant to make the governance of higher education more effective and uniform. The Board would consist of seventeen members serving four year terms, two each elected by the General Assembly based on congressional districts and three members appointed by the Governor. They would be required to meet at least six times a year and would receive mileage and subsistence compensation, as well as per diem.
This Board of Regents would hold governing authority over all public higher education institutions, with the consent of the boards of each institution. The Board would have the power to enact policies and regulations the schools must follow, as well as the degrees the college awards. If any program appears to be too expensive or erroneous, the members can vote to terminate it. They would also approve any new universities built, tuition rates, and enrollment numbers and be responsible for drafting a budget for each school to be presented to the General Assembly, Governor, and SFAA.
Similar: H.3066