ND HB1088

Reduces teachers' fund for retirement board representatives on the North Dakota state investment board from three to two members.

Reduces public employees retirement system board representatives on the state investment board from three total members to two elected members.

Adds two members with institutional investment experience appointed by the governor, with initial appointees serving three-year and five-year terms respectively, and subsequent appointees serving five-year terms.

Changes legacy and budget stabilization fund advisory board representation on the state investment board from one voting member to two non-voting members (one from the senate and one from the house of representatives).

Replaces the insurance commissioner position with the director of the office of management and budget on both the state investment board and the legacy and budget stabilization fund advisory board.

Effective date is July 1, 2023, and the act is declared an emergency measure.