HB 1204 Summary

• State board of higher education awards one dollar in matching grants for every two dollars raised by institutional foundations for academic advancement projects from July 1, 2013 through December 31, 2014.

• University of North Dakota and North Dakota State University may each receive up to $10 million in matching grants if their foundations raise at least $50,000 per project.

• Nine other regional higher education institutions (Bismarck State College, Dakota College at Bottineau, Dickinson State University, Lake Region State College, Mayville State University, Minot State University, North Dakota State College of Science, Valley City State University, and Williston State College) may each receive up to $1 million if their foundations raise at least $25,000 per project.

• Creates a grant review committee chaired by the governor to establish grant criteria and review project requests, with members from appropriations committees and gubernatorial appointees with higher education expertise.

• Institutional foundations are liable for any shortfall between pledged amounts and actual funds received; act expires June 30, 2015.