The bill mandates the Department of Education to conduct a study on the feasibility of establishing a state board of regents-governed institution of higher education in Pottawattamie County or a neighboring county. This institution would offer both undergraduate and graduate degree programs. The study will also identify the most suitable city for the institution's location, propose tentative timelines for its establishment and operationalization, and analyze key factors necessary for its creation.

Additionally, the bill allows the Department of Education to consult with relevant federal, state, or local agencies and stakeholders during the study process. A report detailing the findings and recommendations from this study is required to be submitted to the governor and the general assembly by December 31, 2025.