This bill authorizes the Board of Regents of the University of Nebraska to design and construct residential facilities specifically for students in nursing and allied health professions in Norfolk, Nebraska, with a total project cost of $23,000,000 to be funded by state resources. The Legislature intends to provide annual appropriations of $1,150,000 for a duration of twenty years to support this initiative. Additionally, the Board of Regents is permitted to enter into long-term financing contracts for the project, with payments not extending beyond June 30, 2045. The bill stipulates that the Board cannot pledge the state's credit for these contracts, but may use appropriations made by the Legislature for payment.

Furthermore, the bill outlines that any conveyance or lease of university facilities must ensure that ownership reverts to the Board of Regents once the costs are fully paid. It emphasizes that appropriations for the construction and financing of these facilities will not be reduced until all related contracts are completed, with a maximum extension of appropriations until June 30, 2045. Lastly, the bill includes an intent to appropriate $250,000 for educational technology to support the facilities used for education by the University of Nebraska in Norfolk.