N.D. Cent. Code § 6-09-53

6-09-53. Economic diversification research fund - Report to legislative management

1. There is created in the state treasury the economic diversification research fund. The

fund consists of all moneys deposited in or transferred to the fund pursuant to

legislative action. Moneys in the fund may be spent by the Bank of North Dakota

pursuant to legislative appropriations to provide grants to institutions under the control

of the state board of higher education for economic diversification research.

2. In consultation with representatives of North Dakota state university and the university

of North Dakota, the Bank, in consultation with the state board of higher education,

shall award grants to institutions under the control of the state board of higher

education. The bank must award ninety percent of the funds available each biennium

to North Dakota state university and the university of North Dakota with equal amounts

awarded to each institution. The remaining funding must be awarded to the other

institutions under the control of the state board of higher education, as determined by

the board. The state board of higher education may not award more than fifty percent

of the available funding during the first year of the biennium. The Bank of North Dakota

shall distribute the grant funding as awarded by the state board of higher education.

3. The state board of higher education shall develop guidelines for the economic

diversification research grants. The purpose of the grants is to stimulate economic

activity across the state through innovation of new technology, concepts, and products;

to promote job creation and career and wage growth; to enhance health care

outcomes; to address loss of revenue and jobs in communities with economies that

depend primarily on the fossil fuel industry; and to provide experiential learning

opportunities for students. Research projects may be initiated by an institution under

the control of the state board of higher education or by the private sector. The

guidelines must include consideration for research projects with matching funds and

provisions for grant oversight by an internal advisory committee and an external

advisory committee.

4. The state board of higher education shall develop reporting requirements for the

institutions under the control of the board. The reporting requirements must include

criteria for assessing performance outcomes related to the grants. The state board of

higher education shall compile the reports and submit a comprehensive report

annually to the legislative management. The comprehensive report must include

information on how the research efforts by each institution align with the state's

priorities, how the institutions collaborate when appropriate, and how the outcomes of

the research meet established performance expectations.