HGHER ED-BOARD OF REGENTS

Amends the State Budget Law of the Civil Administrative Code of Illinois. Provides that, beginning with the fiscal year 2022 budget, the budget submitted by the Governor shall include one or more line items appropriating moneys to a Board of Regents. Provides that all appropriations for public universities shall be made to the Board of Regents. Amends the Board of Higher Education Act. Creates the Board of Regents to allocate funds to public universities based on a funding formula recommended by the Board of Higher Education. Provides for the membership of the Board. Provides that the boards of trustees of public universities shall submit to the Board of Regents no later than the 15th day of November of each year their budget proposals for the operation and capital needs of the institutions under their governance or supervision for the ensuing fiscal year. Provides that the Board of Higher Education may require the elimination of any program of instruction, research, or public service at a public university that exhibits a trend of low performance or low enrollment. Provides that the Board of Higher Education shall prepare a comprehensive statewide plan to increase efficiency and enrollment in public institutions of higher education. Specifies the plan requirements. Prohibits the Board of Regents from providing any funds to a public university that does not adhere to the plan.