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North Dakota University system chancellor Mark Hagerott is proposing a Higher Education Stabilization Fund to weather budget downturns, KFGO reports.
The fund, which would be similar to an existing K-12 Stabilization Fund, would be financed by proceeds from the state Legacy Fund. The Legacy Fund receives money from oil tax revenue. Hagerott’s proposal comes in the wake of budget cuts passed by the North Dakota Legislative Assembly in 2017, which spurred the exits of talented professors from the system.
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