An Act to equalize the general fund appropriations appropriated to the Board of Regents.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. That chapter 13-53 be amended with a NEW SECTION:
Beginning in fiscal year 2024 and every five years thereafter, the Board of Regents shall equalize the general fund appropriations appropriated to each postsecondary educational institution under its control. The board shall develop a method and process to apportion appropriated general funds equally among the postsecondary educational institutions based on similar factors and criteria at each institution.
After approval by the Board, the Board shall present a report to the special committee, created pursuant to 4-8A-2, detailing the method, process, and outcome of equalizing the general fund appropriations for each postsecondary educational institution, and request a transfer of general fund appropriations, pursuant to 4-8A-8.