99.1043. Endowment, Carnegie Research I University, private funds needed for one-half of endowment. - Missouri Statutes

Endowment, Carnegie Research I University, private funds neededfor one-half of endowment.

99.1043. If a development plan includes an endowment of positions atan institution of higher education which has a designation as a CarnegieResearch I University, including any campus of such university system, suchendowment must first be funded with a private donation to the institutionof higher education in accordance with its endowment policy in an amount ofat least one-half of the total amount of the endowment. Thereafter, theremaining portion of matching funds for such endowment may be made eitherfrom the local economic activity taxes or from a disbursement made from thestate supplemental downtown development fund. Any disbursement from thestate supplemental downtown development fund for purposes of funding anendowment pursuant to the provisions of this section shall be transferredto general revenue for appropriation of the endowment.

(L. 2003 H.B. 289)