Effective January 1, 1998, no new public post-secondary educational institution, branch campus or off-campus instructional center shall be created except as specifically created by the legislature. The higher education department shall review any proposal for the establishment of a new public post-secondary educational institution or campus and submit its recommendations to the legislature. In reviewing proposals, the department may consider:
A. provisions for a local mill levy of at least two mills; B. population base to provide at least five hundred full-time students; C. whether at least fifty percent of the costs of initial construction comes from private or local sources; E. means for acquisition of property, including purchase, lease, donations or any other means; F. eligibility and level of funding request of the state; and G. brokering of extended learning provisions. Laws 1998, ch. 61, § 2; 2005, ch. 289, § 20.