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The committee shall:
(1) Review and monitor the progress of education in the state's public schools and institutions of higher education;
(2) Receive reports from the commissioner of education concerning the public schools and from the commissioner of higher education concerning institutions of higher education;
(3) Conduct a study and analysis of the public school system;
(4) Make recommendations to the general assembly for legislative action;
(5) Conduct an in-depth study concerning all issues relating to the equity and adequacy of the distribution of state school aid, teachers' salaries, funding for school buildings, and overall funding levels for schools and any other education funding-related issues the committee deems relevant;
(6) Monitor the establishment of performance measures as required by section 173.1006 and report on their establishment to the governor and the general assembly;
(7) Conduct studies and analysis regarding:
(a) The higher education system, including financing public higher education and the provision of financial aid for higher education; and
(b) The feasibility of including students enrolled in proprietary schools, as that term is defined in section 173.600, in all state-based financial aid programs;
(8) Annually review the collection of information under section 173.093 to facilitate a more accurate comparison of the actual costs at public and private higher education institutions;
(9) Within three years of August 28, 2007, review a new model for the funding of public higher education institutions upon submission of such model by the coordinating board for higher education;
(10) Within three years of August 28, 2007, review the impact of the higher education student funding act established in sections 173.1000 to 173.1006;
(11) Beginning August 28, 2008, upon review, approve or deny any expenditures made by the commissioner of education pursuant to section 160.530, as provided in subsection 5 of section 160.530.
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