Federal Economic Stimulus Legislation (Update #3) Friday, January 30 , 2009 I am attaching a summary document of the federal economic stimulus legislation currently pending in Congress. There are many provisions of significant importance to the State University of New York. You may want to pay particular attention to the sections on �State Grants for State Fiscal Stabilization� and �Higher Education Modernization, Renovation & Repair�. The �State Grants for State Fiscal Stabilization� are intended by Congress to assist States in filling budget gaps affecting K-12 as well as public higher education and will be distributed by formulas. Funds for �Higher Education Modernization, Renovation & Repair� will ultimately be allocated by States in subgrants to campuses for specific projects based on certain criteria. There are no earmarks in the legislation. These two programs are our top priorities in the legislation as we believe they will potentially have the most significant effects for your campuses--both in providing funding to NYS to ease state budget pressure on the budget for public higher education and in creating an opportunity for direct support of modernization, renovation and repair needs on your campuses. However, we are currently sorting through the complicated details of both provisions as there are many restrictions that will affect distribution of these dollars. We are conferring with Congressional staff as the Senate prepares their final bill for passage and we are prepared to weigh-in when it goes to conference. I have been working closely with Michael Trunzo, Jim VanVoorst and Phil Wood in developing a strategy to position the University in accessing this funding from the stimulus package. We are also very interested in ensuring that the final legislation includes the many strong provisions for student aid, scientific research and healthcare currently pending in both the House and Senate versions of the legislation. Many other provisions in the proposed legislation are welcome infusions of financial support important to states and local government programs, potentially easing some of the budget constraints New York State and its local municipalities are facing. Our office is in regular communication with NYS congressional delegation staff as details emerge on this legislation. SUNY also signed-on to a letter coordinated by two innovation coalitions, the Task Force on the Future of American Innovation and Tapping America�s Potential, thanking House Democratic leaders for including research and education investments in the economic recovery package. The letter was endorsed by more than 100 universities and other organizations. In addition, we have shared information with the New York State congressional delegation regarding the current state budget outlook for SUNY so they are fully aware of both last year's cuts and the current fiscal outlook. The Administration and congressional leaders hope to have a final economic stimulus bill in place by February 13. Their focus will then turn to, among other things, completing the federal fiscal year 2009 budget. Liz Clark, Director of Federal Relations State University of New York (SUNY) Washington, DC Office 444 North Capitol Street, NW; Suite 221 Washington, DC 20001 Office: (202) 220-1315 / Cell: (202) 384-4171