IHL's facilities briefing summarized Gordian's assessment: about $2.7B in 10-year capital needs, $1.6B backlog, a system net asset value of 76%, and a recommended annual investment target near $130M; legislators discussed demolition authority and R&R budgeting.

Business and workforce leaders urged the committee to prioritize student work outcomes over degree counts; national advisers and Tennessee's commissioner described outcomes-based funding models, trade-offs and data demands; members raised concerns about winners, losers and protecting institutions that serve high-need students.

The IHL board heard a two‑part presentation from NCHEMS that presented four conceptual funding models — base‑plus, per‑FTE, all‑performance, and a hybrid adequacy approach — and outlined trade‑offs, implementation levers and recommended stakeholder engagement across the eight IHL institutions.

Trustees approved first‑reading policy changes and a new Center for Simulation at MSU, multiple new degree programs, several system and UMMC contracts, a preconstruction housing agreement, a $62.5M bond resolution for USM renovations, and multiple real‑estate and capital project items; most votes were carried by voice vote.