(1) (a) The board shall establish a model for determining a higher education institution's performance. (b) The board shall submit a draft of the model described in this section to the Higher Education Appropriations Subcommittee and the governor for comments and recommendations.

(a) The board shall establish a model for determining a higher education institution's performance.

(b) The board shall submit a draft of the model described in this section to the Higher Education Appropriations Subcommittee and the governor for comments and recommendations.

(2) (a) The model described in Subsection (1) shall include metrics, including: (i) completion, measured by degrees and certificates awarded; (ii) completion by underserved students, measured by degrees and certificates awarded to underserved students; (iii) responsiveness to workforce needs, measured by degrees and certificates awarded in high market demand fields; (iv) institutional efficiency, measured by degrees and certificates awarded per full-time equivalent student; and (v) for a research university, research, measured by total research expenditures. (b) Subject to Subsection (2)(c), the board shall determine the relative weights of the metrics described in Subsection (2)(a). (c) The board shall assign the responsiveness to workforce needs metric described in Subsection (2)(a)(iii) a weight of at least 25% when determining an institution of higher education's performance.

(a) The model described in Subsection (1) shall include metrics, including: (i) completion, measured by degrees and certificates awarded; (ii) completion by underserved students, measured by degrees and certificates awarded to underserved students; (iii) responsiveness to workforce needs, measured by degrees and certificates awarded in high market demand fields; (iv) institutional efficiency, measured by degrees and certificates awarded per full-time equivalent student; and (v) for a research university, research, measured by total research expenditures.

(i) completion, measured by degrees and certificates awarded;

(ii) completion by underserved students, measured by degrees and certificates awarded to underserved students;

(iii) responsiveness to workforce needs, measured by degrees and certificates awarded in high market demand fields;

(iv) institutional efficiency, measured by degrees and certificates awarded per full-time equivalent student; and

(v) for a research university, research, measured by total research expenditures.

(b) Subject to Subsection (2)(c), the board shall determine the relative weights of the metrics described in Subsection (2)(a).

(c) The board shall assign the responsiveness to workforce needs metric described in Subsection (2)(a)(iii) a weight of at least 25% when determining an institution of higher education's performance.

(3) For each higher education institution, the board shall annually determine the higher education institution's: (a) performance; and (b) change in performance compared to the higher education institution's average performance over the previous five years.

(a) performance; and

(b) change in performance compared to the higher education institution's average performance over the previous five years.

(4) The board shall use the model described in this section to make the report described in Section 53B-7-705 for determining a higher education institution's performance funding for a fiscal year beginning on or after July 1, 2018.