Senator SCOTT proposes the following amendment (SM INSTITUTES OF INNOVATION):

Amend the bill, as and if amended, Part IB, Section 11, COMMISSION ON HIGHER EDUCATION, page 359, proviso 11.21, lines 7-26, by striking the proviso in its entirety, and inserting

/ (CHE: Institutes of Innovation and Information) Of the funds appropriated to the Commission on Higher Education for the Institutes of Innovation and Information (Institutes), the commission may provide administrative services, oversight, consulting, technical assistance, and other services in support of the Institutes. The commission shall also establish a separate and distinct fund and/or nonprofit foundation to receive private donations on behalf of the program. This fund shall retain its interest earnings.

For accountability purposes, by March first, each institution shall submit a final report to the Commission on Higher Education that details the Institutes: (a) final expenditures and any remaining funds in the operating budget; (b) achieved goals and the timeline detailing when the goals were achieved; and (c) specific measures demonstrating success in implementing and meeting the stated goals. By March fifteenth, the Commission on Higher Education shall report this information to the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee.

The Executive Director of the commission shall order an audit of any participating institution's Institutes of Innovation and Information program activities and expenditures as he deems necessary. /

Amend sections, totals and title to conform.