Plain English Breakdown
The bill summary and text do not specify which fields are considered high-demand or provide details on how funding will be adjusted.
Higher Education Funding Formula Update Act
This bill requires Tennessee's higher education commission to review and update the funding formula for colleges every five years to encourage programs that lead to jobs in high-demand fields.
What This Bill Does
- Requires the state's higher education commission to review and update the outcomes-based funding formula model at least once every five years.
Who It Names or Affects
- Tennessee's higher education commission
- Colleges and universities in Tennessee
Terms To Know
- Outcomes-based funding formula model
- A system that gives money to schools based on how well they help students get jobs or advance their careers.
Limits and Unknowns
- The bill does not specify which fields are considered high-demand.
- It is unclear what specific changes will be made in the funding formula each time it is reviewed.
- This act has not yet become law and needs further steps before it can take effect.