Relating to: funding sources for certain private postsecondary schools and granting rule-making authority.

AB 637 requires private postsecondary schools in the state to derive at least 20% of their annual revenue from non-federal sources in two out of their three most recent fiscal years to enroll state residents. This applies directly to private colleges and universities seeking to admit students who live in the state. The bill defines "annual revenue" and "federal funds" specifically and grants the state education department authority to create implementing rules. The requirement will take effect for the 2028-29 academic year.