(Text of Section from P.A. 104-292)

1. (a) To accept gifts, grants, or legacies from any source when made for higher education purposes.
2. (b) To create and participate in the conduct and operation of any corporation, joint venture, partnership, association, or other organizational entity that has the power (i) to acquire land, buildings, and other capital equipment for the use and benefit of higher education and students in this State;
3. (ii) to accept gifts and make grants for the use and benefit of higher education and students in this State;
4. (iii) to aid in the instruction and education of students in this State; and
5. (iv) to promote activities to acquaint residents of this State with the facilities of the various institutions of higher education.
6. (c) To distribute such other grants as may be authorized or appropriated by the General Assembly for which the Board may adopt any rules necessary for the purposes of implementing and distributing funds pursuant to an authorized or appropriated grant.

(Source: P.A. 104-292, eff. 8-15-25.)