Bill > SB2286

This bill authorizes the University of North Dakota (UND) to obtain a line of credit up to $55 million from the Bank of North Dakota during the 2025-2027 biennium, with an interest rate no higher than the standard rate charged to North Dakota government entities. If UND uses this line of credit, it must request a deficiency appropriation from the general fund in the 70th legislative assembly to repay the borrowed amount. Additionally, the bill appropriates $95 million from various sources, including the Bank of North Dakota line of credit, gifts, grants, and local funds, specifically for constructing an addition to the School of Medicine and Health Sciences. The purpose of this new facility is to expand the state's healthcare workforce capacity, particularly in health, behavioral health, and wellness areas, and to create a robust environment for academic research and discovery. The funding is designated as a one-time expenditure for the same 2025-2027 biennium.

Budget and Finance, Education

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo2286.html