This report responds to Colorado Senate Bill 92-155 by describing the policy changes, new policies and practices, and incentives established to accomplish the legislative purpose, namely, to reduce the average length of time that undergraduate students take to complete their degrees. The report summarizes governing board reports and the actions institutions have taken to assist students toward timely degree completion. It also summarizes board responses to three particular areas of concern which the bill mentions, namely: (1) possible effects of a reduction in the number of degree programs offered; (2) potential effects of increased student costs due to extended time to completion of degrees; and (3) possible effects on core curricula. Finally, the report outlines Commission recommendations for further action. Among the recommendations are the following: (1) governing boards of higher education should define and clearly communicate to students the number of credits and the number of semesters of full-time study normally expected for completion of undergraduate degrees and identify the conditions that would justify degree programs that exceed those guidelines; (2) academic council members and Colorado Commission of Higher Education staff should identify possible incentives for students to take greater advantage of advanced placement courses and credits as a means of enhancing their academic standing when they enroll in postsecondary institutions; and (3) an increased emphasis on specific data and action plans addressing academic persistence should be included in two-year and four-year institution accountability reports to the Commission. (GLR)