15-10-48.2. Agricultural research and extension - Matching grants - North Dakota state university agricultural experiment station

15-10-48.2. Agricultural research and extension - Matching grants - North Dakota state university agricultural experiment station. 1. a. Subject to legislative appropriations, each biennium the state board of higher education shall award one dollar in matching grants for every two dollars raised by the institutional foundation of North Dakota state university for projects dedicated exclusively to agricultural research and extension at the agricultural experiment station. Notwithstanding section 15-10-53, awards under this section may be used for endowments, academic scholarships, operations, facility repair projects, and new capital construction projects. b. To be eligible for a matching grant, the institution shall demonstrate: (1) Its foundation has raised at least twenty-five thousand dollars in cash or monetary pledges for a qualifying project; and (2) The project has been approved by the grant review committee established in section 15-10-51. c. The board may award up to two million six hundred forty-five thousand dollars in matching grants under this section. d. If the remaining dollars are insufficient to provide a matching grant in the amount of one dollar for every two dollars raised by the institutional foundation, the board shall award a lesser amount. 2. The state board of higher education shall retain up to one-quarter of one percent of any grant awarded under this section to assist with the administrative expenses incurred in the grant review process.