This bill authorizes the Board of Regents to plan, construct, and equip a new athletic facility at the University of South Dakota, with an estimated cost of $40 million. The facility will include various athletic amenities such as an indoor track, practice areas, locker rooms, and seating for 2,000 spectators. The bill appropriates $40 million in other fund expenditure authority for this purpose and allows for adjustments to the cost estimate to account for inflation and compliance with new regulations, with a cap on adjustments not exceeding 125% of the original estimate.

Additionally, the bill permits the Board of Regents to accept and utilize funds from federal sources, donations, or other means for the project, establishing a special fund for these resources. It clarifies that any financial obligations incurred under this Act will not create a lien or liability against the state. The Bureau of Human Resources and Administration will oversee the project's administration, and the bill declares an emergency, allowing it to take effect immediately upon passage and approval.