(1) The general assembly finds that state encouragement would contribute to improving the quality and efficiency of the postsecondary education system in Colorado. Therefore, the general assembly finds and declares that an incentives for improvement initiative grant program should be implemented to encourage initiatives at state institutions of higher education demonstrating innovative solutions and successful approaches to increasing efficiency, productivity, quality, and diversity in the Colorado postsecondary education system through a system of competitive matching grants to such institutions. (2) The governing boards of state institutions of higher education, including local district community colleges, or a consortia of such institutions may apply for grants from the commission by submitting proposals for initiatives at their institutions to be designated as incentives for improvement. As used in this section, "incentives for improvement initiative" means any academic initiative of a state institution of higher education that, consistent with the statewide master plan for Colorado postsecondary education, is developed to achieve greater efficiency, productivity, quality, and diversity. (3) The commission, after consultation with the governing boards and the education committees of both houses of the general assembly, shall identify areas of statewide interest in the postsecondary education system and develop criteria to be employed in evaluating proposals for incentives for improvement at state institutions of higher education. Such criteria shall be developed on or before August 1, 1992. The criteria developed by the commission to evaluate such proposals, designate recipients, and award grants shall take into account the following: (a) The commitment by the governing board to provide matching funds pursuant to subsection (5) of this section for a period not to exceed five years; (b) The level of institutional commitment to the initiative measured partially in terms of the reallocation of existing resources to the support of the initiative; (c) Whether the initiative includes measures for performance evaluation that will assist and enhance existing methods of assessment and that demonstrate how the initiative improves efficiency, productivity, quality, and diversity; (d) Consistency with the goals identified in the statewide master plan and institutional academic master plan; (e) The degree of collaboration with business, industry, and other public entities in forming partnerships to enhance the quality of the educational experience; and (f) Such additional criteria as the commission may determine to be appropriate. (4) Grant applications and proposals by the governing boards shall be submitted to the commission by November 1, 1992. Employing the criteria established pursuant to subsection (3) of this section, the commission shall designate an initial list of initiatives to be designated incentives for improvement and shall provide to the general assembly such list, an analysis of the projected funding requirements of the initiative, the proposed grants, and a plan for the support and enhancement of said initiatives. The list of initiatives and proposed grants shall be delivered to the general assembly annually, on or before January 1, commencing January 1, 1993. Initial grants may be awarded to the governing boards of such institutions for the implementation of such programs on or before July 1, 1993. Incentives for improvement designations shall be reviewed annually by the commission. (5) (a) Any grant awarded pursuant to subsection (3) of this section shall be made annually for a period not to exceed five years, with receipt in any year of such a grant being dependent upon the state institution providing matching funds for such year from existing resources of such institution and any private contributions in the following amount: (I) During the first three years of the initiative, an amount equaling forty to sixty percent of the annual grant; or (II) During the fourth and fifth years of the initiative, an amount equaling sixty-five to eighty-five percent of the annual grant. (b) In determining the precise matching fund requirements for each institution selected for an improvement initiative, the commission shall give consideration to the size of the institutional budget and the percentage of such budget that is state general fund moneys. (6) The general assembly may make a separate annual appropriation to the commission, subject to available revenues, in an amount not to exceed one percent of the total annual department of higher education general fund appropriation to governing boards to be used to award incentives for improvement initiative grants. The total amount appropriated annually by the general assembly shall be allocated annually by the commission. (7) The commission, in consultation with the governing boards, shall adopt policies necessary to carry out the direction of this section and may, in furtherance of such policies, establish and implement: (a) A peer review process involving representation of the governing boards; (b) A schedule for directing grants to areas of statewide interest within the postsecondary education system; (c) A method for incorporating the cost of a successful incentives for improvement initiative into the annual appropriation to the governing board of an institution implementing such initiative upon completion of the five years of matching grants for such initiative; and (d) A system for the dissemination of information on successful and unsuccessful incentives for improvement initiatives as well as information on applying for grants under this section. (8) Repealed. (9) The commission shall promulgate such policies as may be necessary for the implementation of this section.
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