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

11

University Relations

Board of CuratorsAcademic, Student and External Affairs Committee

June 14, 2013

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University Relations

John FougereChief Communications Officer

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Show Me Value Tour: Farmington/Lebanon

• 600+ 8th and 9th 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

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2013 Legislative Session

Tracked by UM (10.7%)

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

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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

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Tax Reduction Bill – HB 253Vetoed 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

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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

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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