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 1 of each odd-numbered year, these institutions must transfer all general fund appropriation authority related to vacant and newly created positions, as identified as of December 1 of the previous even-numbered year, to a central fund within the institution.

Additionally, the bill requires each institution to maintain a designated position funding pool from the general fund appropriation and to report to the state board of higher education. This report must include details on salaries and wages, position information, operational use of the funding pool, and specifics about vacant positions, including when they were vacated and filled. This new reporting requirement aims to enhance transparency and accountability regarding the management of funds allocated for these positions.