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 includes a total appropriation of $7,230,500, with designated amounts for Boise State University, Idaho State University, Lewis-Clark State College, and the University of Idaho. Notably, the bill introduces a new allocation of $173,600 from the Normal School Endowment Income Fund and $428,400 from the University Endowment Income Fund, while also reducing the appropriations for the University of Idaho by $2,000,000 and an additional $57,800 for operating expenditures.

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 public 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.