# Title 15 — Education

## Chapter 15-54.1 — University System Capital Building Fund

### § 15-54.1-01. University system capital building fund - Creation - Continuing

appropriation.
There is created in the state treasury the university system capital building fund. The
university system capital building fund consists of moneys transferred to the fund and any
interest and earnings of the fund. The state board of higher education may provide for the fund
to be invested under the supervision of the state investment board. Moneys in the fund are
appropriated to the state board of higher education on a continuing basis for allocations to the
institutions under the control of the state board of higher education for capital projects as
directed by the legislative assembly and in accordance with this chapter. Any interest or
earnings of the fund must be allocated to the capital building fund pool within the university
system capital building fund.
### § 15-54.1-02. Capital building funds - Uses - Reports.

Subject to tier II and tier III capital building fund matching requirements under this chapter,
each institution may use its allocation of funds from the university system capital building fund
for projects specifically authorized by the legislative assembly to use university system capital
building fund moneys. In addition, after an institution has matched and committed seventy-five
percent of the funding appropriated for the institution's tier I extraordinary repairs and subject to
state board of higher education approval and matching requirements under this chapter, each
institution may use its allocation of funds from the university system capital building fund for
extraordinary repairs and deferred maintenance projects for academic and student housing
facilities that do not increase the overall square footage of a building. The state board of higher
education shall report biennially to the legislative management and to the appropriations
committees of the legislative assembly on the use of funding in the university system capital
building fund, the source of matching funds, and each institution's five-year plan for capital
construction spending.
### § 15-54.1-03. Tier II capital building funds - Matching requirements.

The state board of higher education may allocate tier II capital building fund moneys to an
institution for a project only after the institution provides one dollar of matching funds from
operations or other sources for each one dollar from the university system capital building fund
for the project. An institution may not use tier I extraordinary repairs funding, tier III capital
building fund moneys, or state funding appropriated for a specific capital project as matching
funds under this section.
### § 15-54.1-04. Tier III capital building funds - Matching requirements.

The state board of higher education may allocate tier III capital building fund moneys to an
institution only after the institution, excluding the university of North Dakota and North Dakota
state university, provides one dollar of matching funds from operations or other sources for each
one dollar from the university system capital building fund for the project. The state board of
higher education may allocate tier III capital building fund moneys to the university of North
Dakota and North Dakota state university only after the institution provides two dollars of
matching funds from operations or other sources for each one dollar from the university system
capital building fund for the project. An institution may not use tier I extraordinary repairs
funding, tier II capital building fund moneys, or state funding appropriated for a specific capital
project as matching funds under this section.
### § 15-54.1-05. Capital building fund pool.

If the state board of higher education has not allocated capital building fund moneys to an
institution by January first of the third biennium after the funding was appropriated or transferred
to the fund, the board shall reallocate the funds to a pool within the university system capital
building fund. Any institution under the control of the state board of higher education that has

fully matched and committed its university system capital building fund allocation may apply for
and be allocated funding from the capital building fund pool, subject to state board of higher
education approval and tier III capital building fund matching requirements under this chapter.
