|Posted:||December 28, 2012 01:04 PM|
|From:||Senator Jake Corman|
|To:||All Senate members|
|Subject:||NCAA Fine Endowment for Pennsylvania|
|In the near future, I plan to introduce legislation to direct funds from penalties placed on Commonwealth supported institutions of higher education to Commonwealth causes.
The legislation requires that any institution of higher education that receives state appropriated funds and has received a penalty of $10 million or more from an outside governing body, must establish an endowment that will distribute the funds into the Commonwealth.
In a situation as this, the institution has a public mission acknowledged through state contributions and collecting of such funds will impact other areas of that mission. Additionally, the money will be raised in large part due to activity in the Commonwealth and from Commonwealth residents. Due to both of these factors, state policy should require the money be distributed for the benefit of the state and its residents. The distribution will remain with the intent of the penalty agreement.
This legislation seeks to impact the $60 million financial penalties placed upon the Penn State University.
If you have any questions, please contact Scott Sikorski in my office at 717-787-1377 or email@example.com.
Introduced as SB187