AN ACT CONCERNING HIGHER EDUCATION MANAGEMENT AND FISCAL ACCOUNTABILITY.

Added a deadline of January 1, 2026, for the Board of Regents and Board of Trustees to adopt or update management and fiscal accountability policies, replacing the original effective date of July 1, 2025.

Added requirements for supervisors to receive uniform training on monitoring purchasing card use and for cardholders to provide signed acknowledgments of training and misuse agreements.

Added residency requirements for the Chancellor of Connecticut State Colleges and Universities and the President of The University of Connecticut, requiring their primary residence to be in Connecticut for contracts negotiated on or after July 1, 2025.

Changed audit frequency from 'annual' to 'on a regular basis' as often as deemed necessary by the internal audit office.

Expanded accountability measures for purchasing card misuse to include written acknowledgment of misuse, agreements to remedy misuse, and revocation of cards when necessary.