Remuneration of state university employees; limitations.

(1) DEFINITIONS.—As used in this section, the term:

(a) “Cash-equivalent compensation” means any benefit that may be assigned an equivalent cash value.

(b) “Public funds” means funds appropriated from the General Revenue Fund, funds appropriated from state trust funds, or tuition and fees.

(c) “Remuneration” means salary, bonuses, and cash-equivalent compensation paid to a state university employee by his or her employer for work performed, excluding health insurance benefits and retirement benefits.

(2) LIMITATION ON COMPENSATION.—Notwithstanding any other law, resolution, or rule to the contrary, a state university employee may not receive more than $250,000 in remuneration annually from public funds. Only compensation, as such term is defined in s. 121.021(22), provided to a state university employee may be used in calculating benefits under chapter 121.

(3) EXCEPTIONS.—This section does not prohibit any party from providing cash or cash-equivalent compensation from funds that are not public funds to a state university employee in excess of the limit in subsection (2). If a party is unable or unwilling to fulfill an obligation to provide cash or cash-equivalent compensation to a state university employee as permitted under this subsection, public funds may not be used to fulfill such obligation. This section does not apply to university teaching faculty in instructional programs classified as Computer Information Sciences and Support Services; Engineering; Engineering Technologies and Engineering-Related Fields; Florida Mental Health Institute; Health Professions and Related Programs; Homeland Security, Law Enforcement, Firefighting, and Related Fields; Mathematics; Nursing; or Physical Sciences; or to medical school faculty or staff.