TO AMEND THE LAW RELATED TO THE PROPERTY AND FINANCES OF STATE INSTITUTIONS OF HIGHER EDUCATION; TO AMEND THE LAW RELATED TO BONDS; AND TO AMEND THE LAW REGARDING RENTS, TOLLS, FEES, AND OTHER CHARGES RELATED TO ATHLETIC CONTESTS.

SB 545 amends Arkansas law to give public universities greater authority over their property, finances, and revenue streams. It allows university boards to purchase existing buildings, reconstruct facilities, and acquire new infrastructure (Section 1), permits them to issue bonds using non-tax revenues from operations (Section 2), and expands their power to set fees for athletic events, facilities, and other campus services (Section 3). The bill directly affects all 6 Arkansas public universities (University of Arkansas, Arkansas State, UCA, Henderson State, Arkansas Tech, Southern Arkansas) and their governing boards. These changes streamline how institutions manage assets and fund operations without altering tuition or state funding.