§ 388-1836k

***** 388.1836k THIS SECTION IS REPEALED BY ACT 120 OF 2024 EFFECTIVE OCTOBER 1, 2024 ***** 388.1836k Distribution to certain public universities for per-student floor funding.Sec. 236k. (1) The amounts appropriated in section 236 for per-student floor funding are distributed to those public universities whose annual state appropriations per fiscal year equated student is less than $4,500.00 and are to be allocated each year until a funding floor of $4,500.00 is met. (2) The per-student floor funding allocation for fiscal year 2023-2024 is an amount equal to the difference between $4,500.00 and the amount calculated by dividing the annual state appropriations for fiscal year 2022-2023 by total fiscal year equated students for all public universities for fiscal year 2021-2022. The amount paid to an eligible public university is the amount calculated in the immediately preceding sentence multiplied by that university's fiscal year equated students for fiscal year 2021-2022. If a calculation under this section results in an amount less than $0.00, the payment under this section is equal to $0.00.

y that university's fiscal year equated students for fiscal year 2021-2022. If a calculation under this section results in an amount less than $0.00, the payment under this section is equal to $0.00. It is intended that each public university will reach a minimum funding level of at least $4,500.00. (3) As used in this section: (a) 'Annual state appropriations' means the total of those amounts allocated in section 236(2) with the exception of MSU AgBioResearch and MSU Extension for the fiscal year ending September 30, 2023. (b) 'Fiscal year equated students' means that term as used in the higher education institutional data inventory for the fiscal year ending September 30, 2022. History: Add. 2022, Act 144, Eff. Oct. 1, 2022 ;-- Am. 2023, Act 103, Eff. Oct. 1, 2023