North Dakota legislation · 69th Legislative Assembly
North Dakota HB1619: AN ACT to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a long-term care facility infrastructure loan program; to amend and reenact subsection 3 of section 6-09-47 of the North Dakota Century Code, relating to the medical facility infrastructure loan fund; and to provide an appropriation.
Status: Signed into law, June 11, 2025
Relating to a long-term care facility infrastructure loan program; to amend and reenact subsection 3 of section 6‑09‑47 of the North Dakota Century Code, relating to the medical facility infrastructure loan fund; and to provide an appropriation.
What the bill says
An act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a long-term care facility infrastructure loan program; to amend and reenact subsection 3 of section 6-09-47 of the North Dakota Century Code, relating to the medical facility infrastructure loan fund; and to provide an appropriation.
From the enrolled text, May 2, 2025:
AN ACT to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a long-term care facility infrastructure loan program; to amend and reenact subsection 3 of section 6-09-47 of the North Dakota Century Code, relating to the medical facility infrastructure loan fund; and to provide an appropriation. SECTION 1. A new section to chapter 6-09 of the North Dakota Century Code is created and enacted as follows: Long-term care facility infrastructure loan program. 1. The Bank of North Dakota shall administer a loan program to provide loans to nursing and basic care facilities for renovation projects or the construction of new facilities. A construction project may include a land purchase and the purchase, lease, erection, or improvement of any structure or facility to the extent the governing body of the nursing or basic care facility has the authority to authorize such activity. 2. The governing body of a nursing or basic care facility may submit an application to the Bank for a loan. The application b. Demonstrate the need and long-term viability of the project; and c. Include financial information the Bank determines appropriate to verify eligibility. 3. A loan approved under this b. May not exceed ten million dollars for a project; c. Must have an interest rate that does not …