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1999 Session

Budget Amendments - HB1450 (Committee Approved)

Independence of Foundations (language only)

Item 4-5.13 #4h

Item 4-5.13 #4h

Special Conditions And Restrictions On Expenditures

Language
Page 533, after line 6, insert:
"§ 4.5.13  INDEPENDENCE OF FOUNDATIONS OF THE PUBLIC COLLEGES AND UNIVERSITIES
It is the policy of the Commonwealth to encourage private giving to the public colleges and universities and to encourage the work of independent foundations established to support and enhance their programs.  Toward that end, no officer, employee or agent of the Commonwealth shall take any action that may discourage private giving and, other than the requirements of current State and federal law, no officer, employee or agency of the Commonwealth shall place, or attempt to place, limitations or requirements upon independent foundations regarding the conduct of their business.  It is the intent of the General Assembly that the independence of the foundations of the public colleges and universities be respected and not interfered with in any way.  Further, it is the intent of the General Assembly that the public colleges and universities maximize revenues from private giving to enhance their programs."


Explanation
(This amendment is self-explanatory.)