Finds that insofar as tuition waivers have a fiscal impact to the state general fund and to the institutions of higher education, it is in the best interests of the state to undertake a periodic review of tuition waiver statutes in order to examine whether the various waivers are still consistent with the state's priorities in serving its citizens.

Requires the higher education coordinating board to review the current waivers at the state's institutions of higher education and develop recommendations for prioritization of waiver authority. The board shall report to the appropriate committees of the legislature by December 1, 2006, on recommendations for prioritization, including repeal, consolidation, standardization, or other changes to current statutes.