The state House of Representatives approved a $34 billion fiscal 2014 state budget on April 24.
The measure, which passed 127-29, adds nearly $135 million to the spending plan proposed by the House Ways and Means Committee and includes $39 million in new funding for the UMass system.
Currently, the state provides 43 percent of the cost to educate a student with students providing 57 percent. The university has proposed, under the leadership of Caret, that funding to reach the 50-50 formula could be phased in over a two-year period given the state’s fiscal challenges.