Payments to public universities; monthly installments.

Sec. 241. Excluding section 236k, and subject to sections 236l, 241a, 241b, 241c, 241e, and 244, the funds appropriated in sections 236 and 236d to public universities must be paid out of the state treasury and distributed by the state treasurer to the respective institutions in 11 equal monthly installments on the sixteenth of each month, or the next succeeding business day, beginning with October 16, 2026. Except for Wayne State University, each institution shall accrue its July and August 2027 payments to its institutional fiscal year ending June 30, 2027.