(a) For the certification required under § 6-62-805, the amount allowed to be budgeted of unrestricted educational and general funds for intercollegiate athletic programs at a state-supported institution of higher education shall be limited to an amount:(1) Established by the Division of Higher Education for the fiscal year 2012-2013; or(2) An amount of not more than four percent (4%) of the actual total unrestricted educational and general revenues of the previous fiscal year at the state-supported institution of higher education.
(1) Established by the Division of Higher Education for the fiscal year 2012-2013; or
(2) An amount of not more than four percent (4%) of the actual total unrestricted educational and general revenues of the previous fiscal year at the state-supported institution of higher education.
(b) The division shall annually adjust the allowable transfer based upon the Consumer Price Index.
(c) This section shall not apply to:(1) An expenditure related to compliance with § 6-60-111 or increased compliance under 20 U.S.C. § 1092(f);(2) The transfer of funds necessary to support women's athletic programs; or(3) The transfer of funds necessary to:(A) Comply with federal regulations affecting athletics programs; or(B) Make up shortfalls in anticipated revenues due to third-party litigation settlements affecting athletics programs.
(1) An expenditure related to compliance with § 6-60-111 or increased compliance under 20 U.S.C. § 1092(f);
(2) The transfer of funds necessary to support women's athletic programs; or
(3) The transfer of funds necessary to:(A) Comply with federal regulations affecting athletics programs; or(B) Make up shortfalls in anticipated revenues due to third-party litigation settlements affecting athletics programs.
(A) Comply with federal regulations affecting athletics programs; or
(B) Make up shortfalls in anticipated revenues due to third-party litigation settlements affecting athletics programs.