This bill appropriates additional funds to the State Board of Education and the Board of Regents of the University of Idaho for the fiscal year 2026, while also implementing reductions in appropriations for various institutions. Specifically, it allocates funds for personnel and operating costs across several universities, including Boise State University, Idaho State University, Lewis-Clark State College, and the University of Idaho. Notably, the bill includes a reduction of $4,000,000 from the General Fund for operating expenditures, with specific reductions of $2,000,000 each for Boise State University and the University of Idaho, as well as an additional reduction of $57,800 for the University of Idaho.

Furthermore, the bill emphasizes transparency and legislative oversight in negotiations related to the Idaho College of Osteopathic Medicine, prioritizes water research funding, and mandates the development of an outcomes-based funding model for higher education. It also requires diversity, equity, and inclusion audits for the state's universities and allows for one-time reductions in appropriations to be restored in future budget submissions. The act declares an emergency, making it effective from July 1, 2025.