1. Except as provided in subsections 2 and 3 of this section, for each institution under its control, the state board of higher education shall multiply the product determined under section 15-18.2-02 by a factor of: a. 1.00 if the number of credit-hours is at least 240,000; b. 1.05 if the number of credit-hours is at least 180,000 but less than 240,000; c. 1.10 if the number of credit-hours is at least 135,000 but less than 180,000; d. 1.15 if the number of credit-hours is at least 130,000 but less than 135,000; e. 1.20 if the number of credit-hours is at least 120,000 but less than 130,000; f. 1.30 if the number of credit-hours is at least 70,000 but less than 120,000; g. 1.40 if the number of credit-hours is at least 60,000 but less than 70,000; h. 1.50 if the number of credit-hours is at least 50,000 but less than 60,000; i. 1.60 if the number of credit-hours is at least 40,000 but less than 50,000; j. 1.70 if the number of credit-hours is at least 30,000 but less than 40,000; and k. 1.80 if the number of credit-hours is less than 30,000.

2. If the number of credit-hours completed by an institution would cause a decrease in the credit completion factor for that institution compared to the credit completion factor the institution received during the prior biennium, the state board of higher education shall multiply the product determined under section 15-18.2-02 by a credit growth factor of 1.0 for credits in excess of the factor the institution received during the prior biennium. Any weighted credit-hours multiplied by a credit growth factor under this section must have a weight of 1.0 under section 15-18.2-02. The state board of higher education shall multiply the remaining weighted credits by the credit completion factor the institution received during the prior biennium.

3. For purposes of this section, the number of credit-hours must be those determined by the state board of higher education in accordance with section 15-18.2-01.