Mo. lawmakers approve fund for college building
Tuesday, May 22, 2012
JEFFERSON CITY, Mo. (AP) — Missouri Gov. Jay Nixon is weighing legislation creating a new state fund that would help finance construction at public colleges and universities.
Lawmakers approved the measure during the annual session that ended last week.
The proposed Higher Education Capital Fund would provide state matching funds for capital improvement projects at public colleges and universities. The schools would raise their shares through private donations or grants.
The legislation says the state funding could not be used for athletic facilities. It also says colleges and universities could not spend money from their operating budgets, tuition, fees or bond revenues to attract the state match.