JEFFERSON CITY, MO. -- An idea to help balance Missouri’s budget is now off the table.
Gov. Jay Nixon’s administration last month discussed an idea that would have taken $106 million from the reserves of five of Missouri's largest universities to help fund the higher education operating budget for the 2013 budget.
Money from Missouri’s student loan agency would have been used to replenish the reserves over several years.
The idea was not well received by some university officials and state lawmakers, whose approval would have been needed for passage.
Gov. Nixon announced Thursday that the idea was no longer being considered.
On Wednesday House Speaker Steven Tilley vowed that lawmakers would not balance the budget by asking state colleges and universities for a bailout.
The Associated Press contributed to this story.
TV Station Profiles & Public Inspection Files forKTVO