EDUC-FAILURE TO FUND

Creates the Failure to Fund Instruction Act. Provides that public institutions of higher education that spend less on instruction than 33% of the amount of revenue it receives in tuition and fees shall report details on revenue and expenditures and submit a plan to spend more than 33% on instruction to the State Board of Education. Provides that any public institution of higher education that fails to submit a plan or continues to spend less than 33% of the amount of revenue it receives in tuition and fees on instruction for 2 consecutive years shall be ineligible for participation in the monetary award program established under the Higher Education Student Assistance Act for all new applicants. Provides that the Board shall adopt rules necessary to implement the Act.