The UT System Board of Regents approved the creation of a new university in south Texas made up by UT-Browsville, UT-Pan American and the Regional Academic Health Center with an accompanied medical school during a meeting Thursday.
The proposed University of the Americas in the Rio Grande Valley will require approval from the Legislature during the upcoming legislative session.
The regents also approved $100 million over the next ten years to fund the new university whose administration would be headquartered in McAllen.
Scott Kelley, executive vice chancellor for business affairs, said the creation of the new university would not affect funding for other universities.
Funding would come from remaining dollars of the Permanent University Fund, a state endowment funded by the investment of lease sale profits and revenue from production on the land, after corresponding funding has been allocated to existing institutions.