This bill proposes the creation of a new section in chapter 15-10 of the North Dakota Century Code, which establishes a funding mechanism for newly created full-time equivalent positions at institutions governed by the state board of higher education. It mandates that on July 1st of each odd-numbered year, these institutions must transfer all general fund appropriation authority related to vacant and newly created positions, identified as of December 1st of the previous even-numbered year, to a central fund at the institution. Additionally, institutions are required to maintain a designated position funding pool from the general fund appropriation.

Furthermore, the bill stipulates that each institution must report to the state board of higher education, which in turn will provide updates to the budget section at each regular meeting. These reports will include details on salaries and wages, position information, operational use of the funding pool, amounts transferred from the pool, and specifics about vacant full-time equivalent positions, including the dates they were vacated and filled. This structured reporting aims to enhance transparency and accountability in the management of funding for these positions.