Senate Bill 2015 Summary

• Appropriations: Allocates $280.3 million (general fund) to the Office of Management and Budget and various state agencies for the 2023-25 biennium, including funding for salaries, operating expenses, capital assets, and special initiatives like targeted market equity compensation ($82.5 million) and deferred maintenance ($20 million).

• State Employee Compensation: Authorizes 6% salary increases for eligible permanent state employees in the first fiscal year and 4% in the second year, with increases based on documented performance and averaging requirements for each employee group.

• Retirement System Changes: Closes the Public Employees Retirement System main defined benefit plan to new employees on January 1, 2024, transitioning eligible new hires to a defined contribution plan; modifies temporary employee and state official retirement plan participation requirements.

• School Funding & Coal Trust Loans: Modifies baseline funding calculations for school districts and increases the maximum coal development trust fund loan amount from $2 million to $5 million for school construction, including provisions for unanticipated inflation costs.

• Transfers and Special Initiatives: Transfers $200 million to the human service finance fund, $30 million to the North Dakota development fund, and authorizes a $100 million Bank of North Dakota line of credit for water infrastructure loans; includes legislative management studies on state facilities management and guardianship programs.