Re: ND Higher Education just got interesting
Does the avoidance of the large oil trigger mean we get money to renovate Dunbar? Did that make it into the final bill?
edit: It appears it did.
http://www.inforum.com/news/educatio...nt-tuition-cap
Quote:
An amendment added $26 million for the Valley City State University Fine Arts building, as well as $46 million in contingency funding for Dunbar Hall, a 50-year-old chemistry building at North Dakota State University that has had two fires in the past four years. Those funds depend on the amount of general fund revenue the state has in the future.
I'm pretty sure the language is that if revenues exceed projections by $50M, then NDSU gets $46M for Dunbar.
http://www.inforum.com/news/3756062-...nt-take-effect
Quote:
The oil tax cut known as the large trigger will not take effect Monday, causing the state to collect about a half billion dollars more this year than legislators budgeted.
I think it's safe to say that $500M is larger than $50M.
Of course it's possible that not all of the $500M will make it into the general fund, but at least $50M will, right?
edit 2: The trigger is $250M, not $50M. VCSU's project is triggered at $126M above projections. And NDSU has to go through a bunch of hoops to get the money. 1. The SBHE has to confirm the Dunbar project conforms to the NDUS master plan and space utilization study. 2. The state auditor's office has to perform a performance audit on the SBHE's confirmation of the study. 3. Only then can the SBHE go to the Budget Section to get final approval for the $46M. Naturally, VCSU doesn't have to go through any of this to get their $25.85M.
Re: ND Higher Education just got interesting
I don't think the large trigger not happening will directly change the amount of money that flows into the general fund. I believe there is a cap in each biennium on the amount of oil taxes that flows into the general fund. That cap would most likely be hit whether the trigger happened or not. The special funds that get a portion of the oil taxes will be the beneficiaries of the trigger not happening.
Re: ND Higher Education just got interesting
I read that computers is an authorized purchase from your 529 Educational Fund.