(1) The governing board of any state institution of higher education may offer postsecondary courses at locations outside the state of Colorado for credit applicable toward a degree program. For the purposes of this section, the commission, in consultation with the governing boards, shall determine by policy the definition of out-of-state courses. Each governing board shall promulgate policies and procedures concerning the administration of such courses. The policies and procedures shall include, but are not limited to, the following:

(a) A requirement that no state general fund moneys shall be expended in connection with such out-of-state courses; and

(b) A requirement that credit earned for courses offered outside the state of Colorado shall be applicable toward a degree from the sponsoring institution.

(2) The governing board of any state institution of higher education may offer postsecondary noncredit courses at locations outside the state of Colorado. Each governing board shall promulgate policies and procedures concerning the administration of such courses. The policies and procedures shall include, but are not limited to, the following:

(a) A requirement that no state general fund moneys shall be expended in connection with such out-of-state courses; and

(b) A requirement that noncredit courses may be provided that are not applicable toward a degree from the sponsoring institution.

(3) Each governing board shall notify the Colorado commission on higher education of policies and procedures promulgated pursuant to this section.

(4) and (5) (Deleted by amendment, L. 2008, p. 1478, § 19, effective May 28, 2008.)

(6) Each governing board shall provide an annual report to the department of higher education that describes all courses offered outside the boundaries of the state of Colorado. The report shall include a statement of need for the instruction, the geographical location of the instruction, and confirmation that no state funds were used in connection with the out-of-state courses.

(7) This section shall not be construed to limit the authority of the governing boards of state institutions of higher education to offer courses in the state of Colorado.