ND HB1386

Amends section 15-10-12 of the North Dakota Century Code to establish procedures for accepting and managing donations, gifts, grants, and bequests for higher education institutions.

Requires the state board of higher education to record acceptance of moneys and deposit them in appropriate special revenue funds maintained within the state treasury for each institution.

Mandates that all moneys must be used for the specific purpose for which they were donated or given, with federal funds subject to the Enabling Act and North Dakota Constitution requirements.

Directs the state treasurer to immediately transfer deposited funds to institution accounts in the Bank of North Dakota and subjects special revenue fund moneys to legislative appropriations.

Requires biennial budget estimates and provides that any unspent general fund appropriations at the end of the biennium must be deposited into institutional special revenue funds.