An Act relative to the endowment match program

This bill amends state law to authorize a $30 million endowment match program designed to encourage private fundraising by public colleges and universities. The legislation removes previous restrictions on funding and mandates that the Board of Higher Education distribute the money equally among the University of Massachusetts, state universities, and community colleges. Each institution is guaranteed a minimum allocation of $10 million, with any unused funds from lower-tier institutions automatically transferred to the next level in the hierarchy. The primary goal is to provide public higher education schools with financial incentives to secure additional private donations for their endowments and capital projects.