11 University Relations Board of Curators Academic, Student and External Affairs Committee June 14, 2013.

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Presentation transcript:

11 University Relations Board of Curators Academic, Student and External Affairs Committee June 14, 2013

2 OPEN-AS&EA-INFO 1- University Relations John Fougere Chief Communications Officer

3 OPEN-AS&EA-INFO 1- Show Me Value Tour: Farmington/Lebanon th and 9 th grade students Chamber of Commerce roundtables Business tours PlayPower/Little Tikes Commercial Independent Stave Company Wolfe with Farmington Mayor Mit Landrum and Mineral Area College President Steven Kurtz

4 OPEN-AS&EA-INFO Legislative Session Operating Budget $395M for UM in FY14 (Includes $1M for large animal vet program at MU) $12.4M in additional performance funding available for UM $10M for MU School of Medicine and Springfield cooperative program State Revenues Strong Up 10% to date over last year 177 1,653 bills and resolutions filed

5 OPEN-AS&EA-INFO 1- Legislation Passed in 2013 Extension Districting Sunshine Law - Signed by the Governor on May 31 Second Amendment Preservation Act Telehealth Amateur Sporting Event Tax Credit -- Signed by the Governor on March 29

6 OPEN-AS&EA-INFO 1- Tax Reduction Bill – HB 253 Vetoed by the Governor June 5 Highlights: 0.5% individual income tax cut; 3% corporate income tax cut 50% business income deduction Includes trigger for some cuts based on previous year revenues Includes tax amnesty, Streamlined Sales and Use Tax Potential shortfall in GR of $800M - $1.2B Reasons Governor vetoed: Missouri is already a low tax state Loss of revenue would harm education, higher education, other services Increases taxes on prescription drugs, textbooks

7 OPEN-AS&EA-INFO 1- Legislation Not Passed, Likely to Return in 2014 Medicaid Expansion Tax Reform Sales Tax Increase for Transportation Energy Policy Higher Education Bonding Higher Ed Funding Formula

8 OPEN-AS&EA-INFO 1- Federal Relations Student Loan Interest Rates Federal interest rate for undergrads set to increase from 3.4% to 6.8% on July 1 HR 1911 passed U.S. House on May 23 Places interest rates to the 10-year Treasury Note, plus a specified markup and includes a cap The terms of student loans under this proposal are variable, not fixed U.S. Senate has not considered a stand-alone bill yet Senator McCaskill held a roundtable discussion with 15 MU students on May 30 in Columbia