North Dakota HB1362: A BILL for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.

What the bill says

A bill for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.

From the introduced text, January 13, 2025:

A BILL for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA: SECTION 1. A new section to chapter 6-09 of the North Dakota Century Code is created and enacted as follows: Housing development loan fund - Continuing appropriation - Audit and costs of administration - Transfer to general fund. 1. The housing development loan fund is a special fund in the state treasury. The Bank of North Dakota shall administer the fund for the purpose of providing loans to banks in the state to establish housing development loan programs to assist housing builders and developers in the county in which the local bank is located. 2. Loans provided under this section: a. May not exceed five million dollars in total to local banks in each county except that loans to banks located in counties that receive more than five million dollars of oil and gas gross production tax revenue allocations per year may not exceed ten million dollars in total ; b. Must have an interest rate equal to …

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