Establishes the higher education opportunity act to: (1) Ensure that tuition dollars are spent to improve student access, affordability, and the quality of education;

(2) Establish a clear nexus between tuition dollars and improved productivity and greater accountability of public higher education institutions; and

(3) Create a modern and robust higher education financial system that funds outcomes and results rather than input and process.

Requires the office of financial management to create a work group to identify statutory reporting and accountability requirements that are duplicative, overly burdensome, redundant, or ineffective, and develop recommendations for statutory changes.