HB 1151 Summary

• Extends matching grant program for North Dakota higher education institutions through December 31, 2016, providing one dollar in matching grants for every two dollars raised by institutional foundations for academic advancement projects.

• University of North Dakota and North Dakota State University may each receive up to $7 million in matching grants, with the first $2 million per institution designated for student scholarships.

• Two-year and four-year institutions (nine colleges/universities listed) may each receive up to $1 million, with an additional $500,000 available for institutions that have already received $1 million.

• Requires institutional foundations to raise minimum amounts ($50,000 for research universities, $25,000 for other institutions) and obtain grant review committee approval for project eligibility.

• Appropriates $21 million from the general fund and $2.5 million from the student loan trust fund for the biennium beginning July 1, 2015, designated as one-time funding; directs legislative management to study the program during 2015-16 interim.