(1) (a) The commission shall adopt policies concerning the collection and use of student fees by the governing boards of the state institutions of higher education, as defined in section 23-5-119.5. The policies may address, but need not be limited to, the purposes for student fees categories of student fees, the distinctions between tuition revenue and student fee revenue, accounting for student fee revenue, student fee fund balances, the minimum level of student involvement in the processes for establishing, reviewing, changing the amount of, and discontinuing student fees, and student fees that apply to a student concurrently enrolled pursuant to article 35 of title 22. In preparing the policies, the commission shall seek input from the governing boards, the state institutions of higher education, and the student representative to the advisory committee created pursuant to section 23-1-103 and representatives of the student governments at the state institutions of higher education.

(b) The commission may waive the requirements of the policies adopted pursuant to this subsection (1).

(2) (a) On or before January 15, 2018, and on or before January 15 each year thereafter, the department shall report to the joint budget committee and the education committees of the house of representatives and the senate, or any successor committees, concerning the governing boards' fee policies, the collection and use of student fees, and tuition rates.

(b) Notwithstanding the provisions of section 24-1-136 (11)(a)(I) to the contrary, the report required pursuant to subsection (2)(a) of this section continues indefinitely.