This bill authorizes the Board of Regents of the University of Nebraska to design and construct residential facilities for students in nursing and allied health professions in Norfolk, Nebraska, with a total project cost of $23 million to be funded by state appropriations. The Legislature intends to provide annual appropriations of $1.15 million for 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 related to this project must ensure that ownership reverts to the Board of Regents once the costs are fully paid. It also emphasizes that appropriations for the facilities will not be reduced until all related contracts and securities are settled, with a maximum extension of appropriations until June 30, 2045. Lastly, the bill includes an intent to appropriate $250,000 for educational technology for the facilities used by the University of Nebraska in Norfolk.