173.2510.  On-time completion of degree programs, policies to be created to promote — report. — 1.  This section shall be known and may be cited as the "15 to Finish Act".

  2.  The coordinating board for higher education, in cooperation with public institutions of higher education in this state, shall develop policies that promote the on-time completion of degree programs by students.  The policies shall include, but not be limited to:

  (1)  Defining on-time completion for specific levels of postsecondary credentials;

  (2)  Providing financial incentives to students during their senior year of undergraduate study who are on pace to graduate in no more than eight semesters; and

  (3)  Reducing, when feasible and permitted by accreditation or occupational licensure, the number of credit hours required to earn a degree.

  3.  By December 1, 2017, the department of higher education and workforce development shall provide a report to the governor and the general assembly describing the actions taken to implement these provisions.