(1) The general assembly finds and declares that:

(a) Higher education is an economic engine for Colorado, helps to create an informed citizenry, and contributes significantly to Colorado's superior quality of life;

(b) In order to ensure the state's ongoing social, cultural, and economic vibrancy, funding for higher education should be based on the needs of the state, the people of Colorado, and the students;

(c) Colorado currently ranks third in the United States in the percentage of its citizens between the ages of twenty-five and sixty-four with a college degree, largely due to the migration of college-educated adults from other states and countries;

(d) In order to ensure that Colorado students have access to a postsecondary education that will allow them to compete for jobs in Colorado's increasingly high-tech economy and the global economy, it is essential that Colorado make wise use of its investment in higher education to increase the number of Coloradans who have earned a high-quality postsecondary credential;

(e) It is important that the state of Colorado ensures that all Coloradans have access to affordable higher education, regardless of income, race, gender, age, or academic preparation, and that higher education services are available in all geographic areas of the state, including rural areas, historically underserved areas, and areas with low educational attainment;

(f) In particular, it is critical that the rate of postsecondary participation by low-income Coloradans and minorities, who are currently under-represented, be increased at Colorado's institutions of higher education; and

(g) Colorado's limited state resources must be used in a way that provides incentives for state institutions of higher education to achieve the policy goals adopted by the general assembly and the Colorado commission on higher education.

(2) The general assembly further finds and declares that:

(a) In order for the general assembly to perform its duty to exercise oversight and ensure that tax dollars are being used to achieve stated policy goals, higher education must be funded in a manner that is transparent and understandable;

(b) These goals can be accomplished by the general assembly establishing performance metrics that are consistent and predictable but that may be amended, as appropriate, to reflect the changing goals of the state and of institutions;

(c) With a consistent and predictable funding model for higher education, state institutions of higher education will be able to engage in long-term financial planning that will benefit students through more predictable tuition and fees; and

(d) If higher education is funded in a manner that is transparent and understandable, Coloradans, and especially Colorado taxpayers, will more easily understand the benefit realized from Colorado's investment in its higher education system.