76-773. Kansas partnership for faculty of distinction program; definitions.
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76-773. Kansas partnership for faculty of distinction program; definitions. As used in this act:
(a)"Eligible educational institution" means any state educational institution, municipal university, community college, technical college or vocational education school under the governance or coordination of the state board of regents.
(b)"Endowment association" means a not-for-profit endowment association or foundation that is organized and operated exclusively to receive, hold, invest and administer moneys and property as a permanent fund for the support and sole benefit of an eligible educational institution.
(c)"Qualifying gift" means a monetary donation which
(1)is a single monetary donation from a single donor or entity or is a joint monetary donation from or on behalf of two or more donors or entities that are directly related or associated or that otherwise are determined by the state board of regents to have common characteristics or similarities such that the joint monetary donation conforms with the purposes of the program,
(2)is made in cash or the equivalent of cash,
(3)has been received by the endowment association of an eligible educational institution from a single donor or entity for the purpose of endowing a professorship at the eligible educational institution in accordance with the program, and
(4)is:
(A)For community colleges, technical colleges and vocational education schools, an aggregate amount of at least $50,000;
(B)for Fort Hays state university, Emporia state university and Pittsburg state university, an aggregate amount of at least $200,000;
(C)for Washburn university, an aggregate amount of at least $300,000;
(D)for Wichita state university, an aggregate amount of at least $350,000; and
(E)for the university of Kansas, the university of Kansas medical center and Kansas state university of agriculture and applied science, an aggregate amount of at least $500,000.
(d)"Endowed professorship" means the position of a professor of the faculty of an eligible educational institution for which a qualifying gift is received by the endowment association of the eligible educational institution in accordance with the Kansas partnership for faculty of distinction program.
(e)"Program" means the Kansas partnership for faculty of distinction program established by this act.
(f)"State educational institution," "municipal university," "community college," "technical college," "vocational education school" and "state board of regents" have the meanings respectively ascribed thereto by K.S.A. 74-3201b , and amendments thereto.