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 compensation changes for classifications the human resources director has approved for inclusion in higher education health care special pay;

(3) Make changes for other health care classifications that the institution may identify; and

(4) Make direct deposits to financial institutions for payment of salaries and wages of employees.