This bill appropriates funds for the retirement and investment office in North Dakota for the biennium from July 1, 2025, to June 30, 2027. The total special funds allocated amount to $16,547,594, which includes base level enhancements for salaries and wages, operating expenses, and contingencies. Notably, the bill introduces a new line item for "Base Level Enhancements Appropriation" and allocates $200,000 for contingencies. Additionally, it establishes a new and vacant FTE pool with a budget of $470,466, increasing the total full-time equivalent positions from 34 to 35.

Furthermore, the bill outlines one-time funding items that are not included in the base budget for the 2027-29 biennium, specifically $250,000 for information technology consulting. The retirement and investment office is required to report to the appropriations committees of the seventieth legislative assembly regarding the use of this one-time funding. The bill also restricts the retirement and investment office from spending funds from the new and vacant FTE pool unless a transfer request is made to the office of management and budget for reallocation to the salaries and wages line item.

Statutes affected:
Prepared by the Legislative Council staff for Senator Bekkedahl: 21-10-11
Prepared by the Legislative Council staff for Senator Cleary: 21-10-11, 54-52.5-04
Prepared by the Legislative Council staff for Senate Appropriations - Human Resources Division Committee: 54-52.5-04