Legislation

Title: University System of Maryland - Board of Regents - Quasi-Endowment Funds
Sponsored by: Senators King, Benson, Corderman, Elfreth, Jackson, McCray, Salling, and Zucker
Status: Approved by the Governor - Chapter 735
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Authorizing the Board of Regents of the University System of Maryland to make transfers of not more than $150,000,000 subject to certain conditions to establish quasi-endowment funds; and authorizing the Board to use investment income produced by quasi-endowment funds in accordance with the University System of Maryland Policy on Endowment Fund Spending Rule to provide need-based student financial aid.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Appropriations Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Regular

Effective Date(s): July 1, 2023

History

Legislation History
Chamber Senate Calendar Date 2/02/2023 Legislative Date 2/02/2023 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - University System of Maryland - Board of Regents - Quasi-Endowment Funds Proceedings
Chamber Senate Calendar Date 2/02/2023 Legislative Date 2/02/2023 Action Hearing 2/22 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/08/2023 Legislative Date 3/08/2023 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/09/2023 Legislative Date 3/03/2023 Action Favorable with Amendments {633224/1 Adopted Proceedings 40 Click to view Recorded Media
Chamber Senate Calendar Date 3/09/2023 Legislative Date 3/03/2023 Action Second Reading Passed with Amendments Proceedings 40 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - University System of Maryland - Board of Regents - Quasi-Endowment Funds Proceedings
Chamber Senate Calendar Date 3/13/2023 Legislative Date 3/04/2023 Action Third Reading Passed (47-0) Proceedings 41AClick to view Recorded Media
Chamber House Calendar Date 3/14/2023 Legislative Date 3/05/2023 Action Referred Appropriations Proceedings 42 Click to view Recorded Media
Chamber House Calendar Date 3/22/2023 Legislative Date 3/22/2023 Action Hearing 3/28 at 1:00 p.m. Proceedings
Chamber House Calendar Date 3/26/2023 Legislative Date 3/26/2023 Action Hearing canceled Proceedings
Chamber House Calendar Date 3/26/2023 Legislative Date 3/26/2023 Action Hearing 3/30 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Appropriations Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/06/2023 Legislative Date 4/06/2023 Action Favorable with Amendments Report by Appropriations Proceedings
Chamber House Calendar Date 4/06/2023 Legislative Date 3/26/2023 Action Favorable with Amendments {963525/1 Adopted Proceedings 63 Click to view Recorded Media
Chamber House Calendar Date 4/06/2023 Legislative Date 3/26/2023 Action Second Reading Passed with Amendments Proceedings 63 Click to view Recorded Media
Chamber House Calendar Date 4/06/2023 Legislative Date 3/27/2023 Action Third Reading Passed (132-5) Proceedings 64 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/27/2023 Action Senate Concurs House Amendments Proceedings 64 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/27/2023 Action Third Reading Passed (47-0) Proceedings 64 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/27/2023 Action Passed Enrolled Proceedings
Chamber Calendar Date Legislative Date Action Text - Enrolled - University System of Maryland - Board of Regents - Quasi-Endowment Funds Proceedings
Chamber Post Passage Calendar Date 5/16/2023 Legislative Date 5/16/2023 Action Approved by the Governor - Chapter 735 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - University System of Maryland - Board of Regents - Quasi-Endowment Funds Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/02/2023	2/02/2023	First Reading Budget and Taxation
			Text - First - University System of Maryland - Board of Regents - Quasi-Endowment Funds
Senate	2/02/2023	2/02/2023	Hearing 2/22 at 1:00 p.m.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	3/08/2023	3/08/2023	Favorable with Amendments Report by Budget and Taxation
Senate	3/09/2023	3/03/2023	Favorable with Amendments {633224/1 Adopted	40 Click to view Recorded Media
Senate	3/09/2023	3/03/2023	Second Reading Passed with Amendments	40 Click to view Recorded Media
			Text - Third - University System of Maryland - Board of Regents - Quasi-Endowment Funds
Senate	3/13/2023	3/04/2023	Third Reading Passed (47-0)	41AClick to view Recorded Media
House	3/14/2023	3/05/2023	Referred Appropriations	42 Click to view Recorded Media
House	3/22/2023	3/22/2023	Hearing 3/28 at 1:00 p.m.
House	3/26/2023	3/26/2023	Hearing canceled
House	3/26/2023	3/26/2023	Hearing 3/30 at 1:00 p.m.
			Vote - House - Committee - Appropriations	Click to view Recorded Media
House	4/06/2023	4/06/2023	Favorable with Amendments Report by Appropriations
House	4/06/2023	3/26/2023	Favorable with Amendments {963525/1 Adopted	63 Click to view Recorded Media
House	4/06/2023	3/26/2023	Second Reading Passed with Amendments	63 Click to view Recorded Media
House	4/06/2023	3/27/2023	Third Reading Passed (132-5)	64 Click to view Recorded Media
Senate	4/10/2023	3/27/2023	Senate Concurs House Amendments	64 Click to view Recorded Media
Senate	4/10/2023	3/27/2023	Third Reading Passed (47-0)	64 Click to view Recorded Media
Senate	4/10/2023	3/27/2023	Passed Enrolled
			Text - Enrolled - University System of Maryland - Board of Regents - Quasi-Endowment Funds
Post Passage	5/16/2023	5/16/2023	Approved by the Governor - Chapter 735
			Text - Chapter - University System of Maryland - Board of Regents - Quasi-Endowment Funds

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