Exempts purchases by institutions of higher education, not exceeding one hundred thousand dollars, from certain competitive bidding and competitive solicitation requirements.

Authorizes institutions of higher education to: (1) Make payments in advance for equipment maintenance services to be performed up to sixty months after such payment;

(2) Implement, for health care classifications, higher education health care special pay plans to be competitive with positions of a similar nature in the locality in which the institution of higher education is located;

(3) Make direct deposits to financial institutions for payment of salaries and wages of employees;

(4) Require alternate payment methods for employees who do not have an account in a financial institution; and

(5) Use all appropriate means for making and paying for travel arrangements.