HB 2412
An Act providing for funding for State-related universities for the fiscal year beginning July 1, 2026, and ending June 30, 2027, for costs basis, for frequency of payments and for recordkeeping requirements; imposing a duty on the Auditor General; providing for financial statements, for the Agricultural College Land Scrip Fund and for restrictions; and making appropriations.
Summary
**HB 2412 Summary** This Pennsylvania state bill would provide funding for state-related universities (likely Penn State, University of Pittsburgh, Temple University, and Lincoln University) for the 2026-2027 fiscal year. **What it does:** - Allocates state funding to these universities for one fiscal year - Sets requirements for how payments are distributed and how often - Requires universities to maintain specific financial records - Gives the state Auditor General authority to oversee compliance - Addresses the Agricultural College Land Scrip Fund - Places certain restrictions on fund usage **Who it affects:** - Students, faculty, and staff at state-related universities - Pennsylvania taxpayers who fund these appropriations - University administrators managing budgets - State Auditor General's office **What would change:** - Universities would receive their annual state funding allocation - Enhanced financial oversight and reporting requirements - Standardized payment schedules and recordkeeping procedures The bill is currently in the early "introduced" stage and would need to pass through the legislative process before becoming law.