Amend SB 286 on third reading by adding the following appropriately numbered SECTIONS and renumbering the other SECTIONS accordingly: SECTION ___. The legislature finds that: (1) it is vital to the economy of this state that all areas of the state have access to quality higher education; (2) it is in the interest of all residents of this state that a sufficiently funded higher education infrastructure exist that affords those residents opportunities to become educated and productive members of the state's economy; and (3) the Texas Higher Education Coordinating Board's report on closing the gaps provides the state a blueprint for meeting its current and future higher education needs. SECTION ___. (a) An interim committee is established to study higher education funding formulas. The interim committee is composed of: (1) three members of the senate appointed by the lieutenant governor; and (2) three members of the house of representatives appointed by the speaker of the house. (b) The membership of the committee from each house must be representative of all geographic areas of the state. (c) The committee shall select a presiding officer from among its membership and shall meet at the call of the presiding officer. (d) The committee shall: (1) study the adequacy, availability, and equity of higher education funding and its relationship to closing the gaps, including factors such as per capita income, employment rate, percentage without college degrees, percentage of fall enrollment growth, and projected enrollment growth in the region served; and (2) develop recommendations based on the study for changes in higher education funding formulas that maximize the state's limited resources to promote a skilled and viable workforce and to meet the needs of our diverse state economy. (e) Not later than November 1, 2004, the committee shall prepare a report describing its recommendations and shall deliver the report to the governor, the lieutenant governor, and the speaker of the house of representatives. (f) The committee shall adopt procedures to administer this section. (g) Not later than November 1, 2003, the lieutenant governor and the speaker of the house of representatives shall appoint the members of the interim committee. (h) The committee is abolished and this section expires September 1, 2005.