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<p class="MsoNormal"><b>From:</b> Johnson, Dr. Glen <br>
<b>Sent:</b> Tuesday, May 19, 2020 9:50 AM<br>
<b>To:</b> <b>Subject:</b> Update on Endowed Chairs<o:p></o:p></p>
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<p class="MsoNormal" align="center" style="text-align:center"><a name="_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">OKLAHOMA STATE REGENTS FOR HIGHER EDUCATION<o:p></o:p></span></a></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
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<span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:36.0pt;font-family:"Times New Roman",serif;letter-spacing:-3.0pt">Memo</span></b></span><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></span></p>
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<p class="MsoNormal" style="line-height:150%"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">To:
<a name="to1"></a>State Regents<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-indent:.5in;line-height:150%"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">Presidents<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-indent:.5in;line-height:150%"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">Higher Education Network<o:p></o:p></span></b></span></p>
<p class="MsoNormal" style="line-height:150%"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">From:
</span></b></span><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">
<a name="from"></a>Chancellor Glen D. Johnson<o:p></o:p></span></span></p>
<p class="MsoNormal" style="line-height:150%"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">Date:
</span></b></span><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">
<a name="date"></a>Tuesday, May 19, 2020<o:p></o:p></span></span></p>
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<span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">Subject:</span></b></span><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;line-height:150%;font-family:"Times New Roman",serif">
<a name="re"></a>Update on Endowed Chairs Legislation<o:p></o:p></span></span></p>
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<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
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<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><a name="body"></a><span style="font-size:12.0pt;font-family:"Times New Roman",serif">I wanted to provide you with an update regarding legislation for the Endowed Chairs program. As a reminder, HB
2749 and HB 2750 passed the House and Senate last week and were sent to Governor Stitt for his consideration.
<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">HB 2750 increased the total bonding cap for the Endowed Chairs program to $314.4 million, which would address the current unmatched
balance for the Endowed Chairs program of $161 million. While HB 2750 increased the bonding capacity for the Endowed Chairs program, the legislation did not contain funding for a new bond issuance.
<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">HB 2749 provided that no more than $671.2 million in state matching funds shall be used for the Endowed Chairs Program. This would
sunset the state match for the Endowed Chairs program. <o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Late yesterday afternoon, Governor Stitt vetoed HB 2749 and HB 2750. Copies of the veto message for HB 2749 (Attachment 1) and
the veto message for HB 2750 (Attachment 2) have been attached for your review. <o:p>
</o:p></span></b></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Thanks.<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Glen<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Glen D. Johnson</span></b></span><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Chancellor<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Oklahoma State Regents for Higher Education<o:p></o:p></span></span></p>
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<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Oklahoma City, Oklahoma 73104<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">405.225.9122<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_Hlk40770795"></span><a href="mailto:gjohnson@osrhe.edu" target="_blank"><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">gjohnson@osrhe.edu</span></span><span style="mso-bookmark:_Hlk40770795"></span></a><span style="mso-bookmark:_Hlk40770795"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">
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