Institutions of higher learning; require adoption of new performance-based funding model.

An Act To Amend Section 37-101-15, Mississippi Code Of 1972, To Establish Parameters For A New, Performance-based Funding Model For State Institutions Of Higher Learning; To Require That Such Funding Model Be Used To Disburse 75% Of General Funds Appropriated For Such Purpose And Be Implemented By July 1, 2029; To Provide For Distribution Of Remaining Funds; To Provide A 10% Performance-based Holdout; To Require The Funding Model To Include A Base Appropriation And A Performance-based Allocation; To Provide Measurable Outcomes Which Shall Be Calculated Using Standardized Definitions Adopted By Rule; To Require The Board Of Trustees Of State Institutions Of Higher Learning To Establish Performance Standards, Scoring Thresholds And Values For Each Metric In A Publicly Noticed Meeting On Or Before June 20, 2026; To Provide Specific Requirements For Such Standards, Thresholds And Values; To Provide For Developing, Calculating Or Administering The Funding Model; To Require The Board To Continuously Monitor Institutional Performance Under The Funding Model; To Require The Board To Identify Institutions At Risk Of Failing To Meet Specific Standards; To Authorize The Board To Take Certain Actions Upon A Determination That An Institution Is At-risk; To Require The Board To Submit An Annual Report To The Legislature And Publish Such Report On Its Public Website; To Require Certain Information To Be Included In The Report; To Require The Board To Promulgate Rules Necessary To Implement This Act; To Require The Board To Adopt And Publish The Funding Model, Including All Metric Definitions, Benchmarks And Weights, No Later Than June 30, 2026; To Provide For Application Of The Funding Model For The Initial Three Fiscal Years Following Adoption And Publication; To Require Full Implementation Of The Funding Model By July 1, 2029; To Prohibit The Board From Permitting A Person Subject To The Registration Requirements Under Sections 45-33-21 Through 45-33-63 To Reside In A Dormitory