The proposed bill amends existing legislation to provide an appropriation to the University of North Dakota and authorize a line of credit, replacing a previous provision for a legislative management study regarding health profession programs. Specifically, the bill allows the University of North Dakota to borrow up to $55 million through a line of credit from the Bank of North Dakota during the biennium from July 1, 2025, to June 30, 2027. The interest rate on this line of credit is capped at the prevailing rate charged to North Dakota government entities, and if utilized, the university must request a deficiency appropriation from the general fund to repay the borrowed amount.

Additionally, the bill appropriates $95 million from various sources, including the line of credit, gifts, grants, and donations, to the University of North Dakota for constructing an addition to the School of Medicine and Health Sciences. This funding aims to create a health professions collaborative facility that will enhance workforce capacity in health, behavioral health, and wellness, as well as promote research and academic excellence. The funding is designated as a one-time allocation for the same biennium.