Nixon says Plan is "Off the Table"
JEFFERSON CITY, Mo. (AP) _ Gov. Jay Nixon says he will not seek to use university reserves to help balance Missouri's budget.
Nixon's administration had floated an idea last month that would have taken $106 million from the reserves of five of Missouri's largest universities to help fund the higher education operating budget for the 2013 budget. The reserves would have been replenished over several years with money from Missouri' student loan agency.
Nixon said Thursday that the idea is now off the table.
The idea had not gone over well with some university officials and state lawmakers, whose approval would have been needed.
On Wednesday, for example, House Speaker Steven Tilley had vowed that lawmakers would not balance the budget by asking state colleges and universities for a bailout.