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SB 142

COLLEGES/UNIVERSITIES: Requires postsecondary education management boards to continue to comply with the conditions on all Board of Regents Support Fund matches. (gov sig)

2026 Regular Session Introduced by Mike Reese

Public colleges must keep complying with Board of Regents Support Fund endowment match rules, preserving the original corpus and alignment with BRSF policies.

Effective date 5/15/2026.
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Bill Summary · SB 142

Summary: SB 142 (Louisiana 2026) – Colleges/Universities: Board of Regents Support Fund compliance

Bill overview

  • Bill number & session: SB 142, 2026 Regular Session
  • Jurisdiction: Louisiana
  • Sponsor: Senator Reese (Co-sponsor: Mike Reese)
  • Governor action: Effective upon signature by the governor or upon lapse of time for gubernatorial action (default). If vetoed and overridden, effective the day after approval.
  • Committee actions: Reported with amendments; passed the Senate and referred to the House; no Legislative Bureau amendments noted in final action.

Purpose and intent

  • The bill retains existing authority for postsecondary education management boards to seek, receive, and manage donations and other financial support for educational purposes.
  • It adds a specific requirement: management boards must continue to comply with the endowment programs and policies associated with Board of Regents Support Fund (BRSF) matching arrangements, including the initial conditions on receipt of funds and the inviolability of the endowment corpus when state and nonstate contributions are combined.

Key provisions (substantive changes)

  • Existing authority preserved: Postsecondary system management boards retain authority to actively seek and accept donations, bequests, and other forms of financial assistance from public or private sources, and to comply with applicable rules and regulations governing such gifts.
  • Compliance obligation added for BRSF matches: For institutions under a management board that have received funds from the Board of Regents Support Fund, the boards must:
    • Ensure continued compliance with the endowment programs under which nonstate contributions were matched with public funds.
    • Adhere to the initial conditions on the receipt of such funds.
    • Align endowment strategies with the BRSF matching program.
    • Maintain the inviolability of the original corpus, including both nonstate and state contributions, as funds derive from the Louisiana Education Quality Trust Fund (a public fund retaining public character.

Who is affected

  • Primary entities: Postsecondary education management boards and their member institutions that have received funds from the Board of Regents Support Fund.
  • Broader context: This aligns governance of endowment funds and matching programs with BRSF policies and the Louisiana Education Quality Trust Fund structure.

Effective date and timeline

  • Effective date: Upon the governor’s signature or, if the governor does not act, the constitutional default waiting period for gubernatorial action.
  • The bill does not create a new funding stream; it reinforces ongoing compliance obligations related to existing BRSF endowment matches.

Practical implications

  • Institutions receiving BRSF funds will face a heightened emphasis on maintaining the original corpus and adhering to the rules that governed the original matching arrangement.
  • Management boards must monitor endowment endowment policies to ensure continued alignment with BRSF programs and the inviolability of the corpus, potentially affecting investment strategies and donor engagements.

Summary

SB 142 codifies a reaffirmed compliance requirement for public postsecondary institutions with respect to Board of Regents Support Fund endowment match programs. It ensures that, in addition to general fundraising authority, boards must continue to follow the initial conditions and endowment protections when nonstate contributions are matched with public funds, preserving the corpus and alignment with BRSF matching rules. The measure is effective upon executive action (signature) or the expiration of the governor’s action window.

Compiled from official sources — confirm details with the bill’s official record.

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