After weeks of waiting, a proposal to make the University of Pikeville a state university has arrived. House Speaker Greg Stumbo and state Representative Leslie Combs filed the bill today.
The measure would send $13 million in coal severance tax funds to the university ever year. In turn, the university would turn over all its assets to the state. Also, UPIKE says it would lower tuition by $10,000 a year and increase enrollment to 2,000 students a year.
In a news release, Stumbo said it was “the best deal” he’s ever seen a state get when it comes to taking control of something. The last university added to the state system was the University of Louisville in the 1970s.