ND SB2161

Creates a rapid enrollment school construction grant fund administered by the Bank of North Dakota to provide grants to eligible school districts for construction and renovation projects.

Establishes eligibility requirements including student enrollment growth of at least 125 students per year over five years, a minimum levy of 60 mills for general fund purposes, and prior obligation of local funding equal to 30 mills.

Limits grants to the lesser of 50 percent of project cost (approved by voter majority) or $15 million, with school districts eligible for only one grant every five years.

Transfers $75,000,000 from the strategic investment and improvements fund to the rapid enrollment school construction grant fund during the 2019-2021 biennium.

Appropriates $75,000,000 to the Bank of North Dakota for rapid enrollment grants to eligible school districts for the biennium beginning July 1, 2019, and ending June 30, 2021.