PUBLIC UNIV-LIMIT TUITION INCR

Creates the Tuition Increase Limitation Act. Beginning with the 2003-2004 academic year, prohibits a tuition rate increase at a public university that is greater than the product of the tuition rate for the preceding academic year multiplied by a percentage that equals 2% plus the percentage increase, if any, in the Consumer Price Index for All Urban Consumers for all items for the calendar year in which that preceding academic year began. Provides that if the State is in financial crisis in any fiscal year, the General Assembly, by joint resolution, may suspend the limitation for that fiscal year. Effective July 1, 2003.