A bill for an act relating to postsecondary education institutions, including the membership and functions of the state board of regents and accreditation of public institutions of higher education.

HSB 534, the "University Governance Reform Act," restructures Iowa's State Board of Regents by adding three student members (one per public university) and limiting legislative members to appointments through 2029. It requires the board to develop a post-tenure review policy for faculty and gives the legislature authority to disapprove specific board expenditures via joint resolution. The bill directly affects public universities, the governing board, and state lawmakers by changing membership rules, appointment processes, and spending oversight. Key provisions include updated term lengths for members, new transparency requirements for board decisions, and revised procedures for filling vacancies.