This bill amends several sections of the North Dakota Century Code related to the university system capital building fund, which is established to support capital projects at institutions under the control of the state board of higher education. Key amendments include the creation of a tier II allocation for each institution, which is subject to matching requirements, and the introduction of specific provisions for extraordinary repairs and deferred maintenance projects. The bill also repeals a previous section concerning the capital building fund pool and outlines a transfer of $65 million from the strategic investment and improvements fund to the university system capital building fund, detailing allocations for various institutions.

Additionally, the bill modifies matching fund requirements for tier II and tier III capital building funds, specifying different matching ratios for the University of North Dakota and North Dakota State University compared to other institutions. The state board of higher education is tasked with biennial reporting on the use of these funds and the source of matching funds. The legislative intent is expressed for future appropriations, indicating a desire for $80 million to be allocated for tier III of the university system capital building fund for the biennium starting July 1, 2027.

Statutes affected:
INTRODUCED: 15-54.1-01, 15-54.1-02, 15-54.1-03, 15-54.1-04, 15-54.1-05