Effective 3/24/2022 53B-7-703. Performance Funding Restricted Account — Creation — Deposits into account — Legislative review. (1) There is created within the Income Tax Fund a restricted account known as the “Performance Funding Restricted Account.” (2) Money in the account shall be: (a) used for performance funding for: (i) degree-granting institutions; and (ii) technical colleges; […]
Effective 7/1/2021 53B-7-704. Designation of targeted jobs — Determination of estimated revenue growth from targeted jobs — Reporting. (1) As used in this section, “baseline amount” means the average annual wages for targeted jobs over calendar years 2014, 2015, and 2016, as determined by the Department of Workforce Services using the best available information. (2) […]
Effective 7/1/2021 53B-7-705. Determination of full new performance funding amount — Role of appropriations subcommittee — Program review. (1) In accordance with this section, and based on money deposited into the account, the Legislature shall, as part of the higher education appropriations budget process, annually determine the full new performance funding amount for each: (a) […]
Effective 5/5/2021 53B-7-706. Performance metrics for institutions — Determination of performance. (1) (a) (i) (A) The board shall establish a model for determining a degree-granting institution’s performance. (B) Beginning in March 2021, the board shall establish a model for determining a degree-granting institution’s or technical college’s performance. (ii) Beginning in May 2021, the board shall: […]
Affected by 63I-2-253 on 7/1/2023 Effective 7/1/2021 53B-7-707. Performance metrics for technical colleges — Determination of performance. (1) (a) The board shall establish a model for determining a technical college’s performance. (b) The board shall submit a draft of the model described in this section to the Higher Education Appropriations Subcommittee and the governor for […]
Effective 5/9/2017 53B-7-708. Legislative audit. (1) Subject to prioritization of the Audit Subcommittee, the Office of the Legislative Auditor General established under Section 36-12-15 shall in any fiscal year: (a) conduct an audit of money appropriated for performance funding; and (b) prepare and submit a written report for an audit described in this section in […]
Affected by 63I-1-253 on 7/1/2027 Effective 5/4/2022 53B-7-709. Five-year performance goals. (1) As used in this section: (a) “Access metric” means the metric described in Subsection 53B-7-706(2)(a)(ii)(A). (b) “Award” means a degree or certificate that an institution grants. (c) “Cohort” means a group of students, defined by the year in which the group enrolls in […]
