This bill establishes a new chapter in Title 54 of the North Dakota Century Code, creating the Advanced Technology Review Committee, the Advanced Technology Grant Program, and the Advanced Technology Grant Fund. The committee will consist of members from both the public and private sectors, including the Chief Information Officer, the Vice Chancellor for Information Technology, and appointees from the governor and legislative leaders. The committee is tasked with reviewing and approving grant applications from entrepreneurs and small businesses engaged in advanced technology research and development, particularly in areas like artificial intelligence and quantum computing.

The bill also outlines the administration of the Advanced Technology Grant Program by the Department of Commerce, which will provide grants to support early-stage research and development. It specifies eligibility criteria for grant applicants and the appropriate use of funds, emphasizing that grants should not be used for capital investments or administrative costs. Additionally, the Advanced Technology Grant Fund will be established to manage the financial resources allocated for these grants, with provisions for post-award monitoring to evaluate the impact of funded projects on economic development and workforce enhancement in the state.