ND SB2081

Amends Section 15-03-16 of the North Dakota Century Code to establish a continuing annual appropriation for costs related to investments controlled by the board of university and school lands

Covers management fees, trustee fees, consulting fees, custodial fees, and capitalized performance measurement fees for investments

Includes expenses for money manager searches, onsite audits and reviews of investment managers, building repairs, maintenance, renovations approved by the board, and payments in lieu of taxes for the building and grounds

Requires each payment to be made from the trust fund for which the investment cost was incurred

Passed the Senate 46-0 (1 absent) and the House 78-12 (4 absent)