Section 17:3128 - Power to formulate master plan; mission establishmentA.(1) The Board of Regents shall have the power to formulate and make timely revision of a master plan for postsecondary education. As a minimum, the plan shall include a formula for equitable distribution of funds to the institutions of postsecondary education. The board shall submit its plan and formula for funding to the governor and the legislature.(2)(a) The Board of Regents shall, at a minimum, review the master plan for postsecondary education at least once every four years and revise as deemed necessary and appropriate.(b) The board shall review and submit a revised master plan to the governor and the legislature not later than September 1, 2019.B.(1) After consultation with each postsecondary education management board, the chancellor, and the president of each public institution of postsecondary education, the Board of Regents shall devise, describe, and establish a mission for each public college and university system and for each institution within each system. Each mission statement shall be included in and form the basis of the master plan provided for in Subsection A of this Section. Initial mission statements shall be completed no later than January 15, 1989. These mission statements shall be reviewed at least once every four years and revised as necessary and appropriate in order to achieve and maintain the institutional balance necessary for diversity, access, and excellence.(2) The Board of Regents shall make such recommendations for legislative or gubernatorial action necessary to support the development of each system and institution as provided in its mission statement. Not later than January thirtieth of each year, the board shall submit a report to the legislature and the governor on the status of postsecondary education relative to the mission statements, including in such report all revisions since the last report and any recommendations for legislative or gubernatorial action.(3) Each mission statement devised pursuant to this Section shall include all of the following: (a) The intended role and scope of each system and institution, including descriptions of its geographic service area and the student population intended to be served.(b) Its public service contribution.(c) Its academic and research goals, including descriptions of programs being emphasized.(d) Its contribution toward and proper role in the collective goals of public postsecondary education of diversity, access, and excellence.Added by Acts 1975, No. 313, §1, eff. July 17, 1975; Acts 1987, No. 241, §1, eff. July 3, 1987; Acts 1997, No. 1360, §1, eff. Jan. 1, 1998; Acts 2010, No. 447, §1, eff. June 22, 2010; Acts 2018, No. 400, §1, eff. May 23, 2018; Acts 2019, No. 21, §1.Amended by Acts 2019, No. 21,s. 1, eff. 8/1/2019.Amended by Acts 2018, No. 400,s. 1, eff. 5/23/2018.Added by Acts 1975, No. 313, §1, eff. 7/17/1975; Acts 1987, No. 241, §1, eff. 7/3/1987; Acts 1997, No. 1360, §1, eff. 1/1/1998; Acts 2010, No. 447, §1, eff. 6/22/2010.