From the College Open Textbooks blog:
To spur authors to openly license their work, the Saylor Foundation will offer a $20,000 award for submitted textbooks accepted for use in our course materials after a round of peer reviews. To be eligible for the award, the author(s) must agree to license the text under a Creative Commons Attribution 3.0 Unported (CC BY) license.
The Saylor Foundation will formally launch the Challenge just after Labor Day so please visit the Saylor.org site at that time and keep your eyes out for more information. The challenge aims to license open texts for over 200 courses currently residing on Saylor.org used in twelve of the most popular college majors enrolled in by U.S. students.
This is exciting news, as we have several faculty in our system who will likely be eligible. I hope this will tip the scales for others developing textbooks and considering going open.