Senate Bill No. 2344 Summary

• Creates the North Dakota legacy foundation composed of nine members appointed by the governor for two-year terms, with approximately half of initial members appointed to one-year terms to establish staggered terms.

• Foundation must elect an executive committee with three to five members including a chairman, vice chairman, secretary, treasurer, and up to two members at large.

• Foundation shall seek private sector funding for administrative expenses, with private sector funds exempt from state constitutional restrictions on public moneys.

• Foundation must conduct biennial assessments of legacy fund priorities, develop a ten-year strategic plan with a maximum of three ongoing focus areas, and present biennial reports to legislative management with recommendations and necessary legislation.

• Foundation's biennial priorities must include developing a comprehensive strategy for building a world-class primary and secondary education system, and may include higher education scholarships, a "genius initiative" for innovation, and investments in twenty-first century economic and community infrastructure.