Higher educational institutions, baccalaureate public; intercollegiate athletics programs.

Baccalaureate public institutions of higher education; boards of visitors; intercollegiate athletics programs; athletics revenue and subsidy requirements; report. Amends provisions relating to intercollegiate athletics programs and athletics revenue requirements by expanding the allocations of athletics revenues that may be excluded from the subsidy for the purposes of calculating the subsidy percentage, as defined by applicable law, to include athletics revenues allocated to medical expenses and insurance. The bill also directs the Joint Legislative Audit and Review Commission to (a) study the impact of the provisions of the bill on intercollegiate athletics in the Commonwealth and make recommendations on any further legislative action or policy considerations that should be made based on the impact of the provisions of the bill on intercollegiate athletics in the Commonwealth and (b) submit a report on its findings and recommendations to the Governor and the Chairs of the Senate Committee on Education and Health, the Senate Committee on Finance and Appropriations, the House Committee on Education, and the House Committee on Appropriations by November 15, 2025. The bill has an expiration date of July 1, 2026.