Senate Finance Committee Approves UB 2020 Bill

ALBANY, N.Y. -- The Finance Committee of the New York State Senate today unanimously approved the UB 2020 Flexibility and Economic Growth Act, moving the bill another step closer to passage.

The bill next goes to a full Senate vote before moving on to the state Assembly for consideration.

University at Buffalo President John B. Simpson thanked Senate Finance Chair Carl Kruger and Senators William Stachowski, Antoine Thompson, George Maziarz and Dale Volker for their leadership and support of the bill.

"We now look forward to a vote on the bill by the entire Senate in the very near future," Simpson said. "The Senate's continued support of this bill brings UB one step closer to fulfilling our ambitious goals for UB 2020: to build a great public research university that is the catalyst for a thriving knowledge-based economy in our region."

In approving the bill in the Finance Committee, Senator Stachowski said the bill provides a sensible and immediate way for UB to achieve its UB 2020 plan -- without cost to the taxpayers.

"The UB 2020 Flexibility and Economic Growth Act is the type of high-impact, no cost legislation Western New York needs to move forward with economic development strategies that only can be provided by a major research university like UB," Stachowski said.

Among the reforms proposed by the bill, UB would be allowed to implement a rational tuition policy whereby the university retains revenues from small increases in tuition. UB will devote as much as 20 percent of the additional tuition revenue exclusively to students in need, in addition to financial aid provided by existing proportional TAP funding.

"The bill will help improve educational access for economically disadvantaged students while also allowing UB to pursue its goal to be an even larger economic engine for the region," Stachowski noted.

The bill also would provide UB with flexibility in spending and contracting, access to capital markets, and the ability to lease and purchase land and facilities. These reforms would give UB the financial flexibility needed to pursue growth strategies commonly used by other large research universities nationwide.

Achieving UB 2020 is projected to increase UB's economic impact on Western New York from $1.7 billion to $3.6 billion annually, and will create well over 10,000 jobs in a variety of sectors -- in information technology, maintenance/custodial/trade, clerical, faculty and professional administration, and technical and research support.

More than 30 of New York State's most prominent and influential business, labor, community and university groups support the UB 2020 initiative as the region's best strategy for economic development and regional job creation.

Supporting the UB 2020 efforts are the Buffalo Building and Construction Trades Council, Buffalo Niagara Partnership, Amherst Chamber of Commerce, the City of Buffalo, Erie County, Town of Amherst, United Autoworkers, Kaleida Health, Buffalo Niagara Medical Campus, Roswell Park Cancer Institute, the Board of Block Clubs, United Way, Oishei Foundation, the UB Undergraduate Student Association, UB Faculty Senate and UB Parent Association.

The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system and its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.