Senate Bill 2003 Summary

• Appropriates $896.3 million in general fund and $172.5 million in special funds to the North Dakota university system for the 2013-15 biennium, covering operations and capital projects across all institutions.

• Creates matching grant programs awarding $1 in state funds for every $2 raised by institutional foundations for academic advancement projects, with up to $10 million available to UND and NDSU and up to $1 million to other institutions through December 31, 2014.

• Authorizes the state board of higher education to issue bonds totaling $56.5 million for University of North Dakota capital projects including student housing, dining facilities, and resident apartments.

• Provides loan authorization of $62 million from the Bank of North Dakota for phase 2 of the University of North Dakota School of Medicine and Health Sciences facility project, with repayment to be sought from the 64th legislative assembly.

• Modifies construction project variance reporting requirements from monthly to semiannual submissions and amends various statutes relating to student financial assistance, school of medicine operations, and cancellation of unexpended appropriations.