The Regents Task Force has as an authorization to consider the implications of collective bargaining for faculty governance, the implications of collective bargaining for institutional autonomy in a system of universities such as the Wisconsin system, and the implications of collective bargaining for recruiting, and retaining quality faculty. Conclusions and recommendations include: (1) The extension of collective bargaining rights to faculty should be based upon a recognition of their dual role as both employees and professionals. (2) The following principles and practices of the University system are essential to maintain a public university system with excellence and should be maintained in any collective bargaining arragnement developed for faculty: institutional autonomy; tenure; academic freedom; merit system for salary; shared governance; and recognition of the responsibilities and authority of the Regents, president, chancellors, faculty, and academic staff. Major issues discussed in the report include: collective bargaining in higher education; collective bargaining rights, their scope and extension; specific provisions in enabling legislation, and the minority statement. Appendixes include statements from faculty, students, and staff, appearances from organized groups, and discussions with national authorities. (Author/PG)