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 section 15-54.1-05, which pertains to the university system 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 how these funds will be allocated among various institutions.

Additionally, the bill specifies new matching requirements for tier II and tier III capital building funds, particularly for the University of North Dakota and North Dakota State University, which will have different matching ratios compared to other institutions. The state board of higher education is tasked with reporting biennially on the use of these funds and the source of matching funds, as well as each institution's five-year capital construction spending plan. The legislative intent is also 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 beginning 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