Maryland Higher Education Commission

April 2009 Press Release

 

 

For immediate release: April 14, 2009                                                      Media Contact: Christopher Falkenhagen

                                                                                                                           Communications: (410) 260-4511

 

 

Governor's historic Higher Education Investment Fund remains in budget

 

ANNAPOLIS, MD (April 14, 2009) - A major initiative created by Governor O’Malley that will benefit higher education in the State will remain in effect after legislative leaders who recognized its importance pushed for it to be included in the FY 2010 budget.

The Maryland Higher Education Investment Fund (HEIF) was created during the 2007 Special Session of the General Assembly. It is funded through the State corporate income tax designated specifically for higher education projects and initiatives and has provided a historic dedicated revenue source for higher education.

“Certainly the HEIF has been very beneficial to MHEC and many of our public higher education institutions,” Secretary of Higher Education James E. Lyons, Sr., said. “Once again, the O’Malley-Brown administration has shown its commitment to higher education in Maryland by remaining committed to the Higher Education Investment Fund again this year. Overall, they recognize that it is beneficial for Maryland’s families and kids if the State provides a strong higher education to all who wish to pursue one.”

Money in the HEIF will be expanded to supplement General Fund appropriations to public senior higher education institutions and research institutions of USM and Morgan State. The HEIF will provide $1.5 funding in the FY 2010 budget for workforce development initiatives administered by MHEC.

The Maryland Higher Education Commission is a 12-member coordinating board responsible for establishing statewide policies for Maryland public and independent colleges and universities and private career schools. It serves as an advocate for more than 325,000 college students in Maryland, for the State and its needs, and for business and industry in Maryland.
 

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