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.
Summary
HB 1362 would have created a new housing development loan fund in the state treasury and directed the Bank of North Dakota to administer it. The fund’s purpose was to make low-interest loans to local banks so they could establish housing development loan programs to assist housing builders and developers in the county where the bank is located. The bill set loan terms at 2% interest, with repayment required by June 30, 2030, and allowed the Bank to adopt policies and guidelines for the program.
The bill also included a one-time $10 million general fund appropriation to be transferred into the new fund, with continuing appropriation authority for principal and interest payments and related administrative costs. It capped loans to banks in most counties at $5 million total, but allowed up to $10 million in counties receiving more than $5 million annually in oil and gas gross production tax revenue allocations. Any remaining balance in the fund would be transferred to the general fund on June 30, 2030, and the act would expire on that date.
Impact
If enacted, HB 1362 would have added a new section to chapter 6-09 of the North Dakota Century Code establishing a state-run housing development financing mechanism through the Bank of North Dakota. It would have created a continuing appropriation for the fund, authorized administrative servicing fees up to one-half of one percent, and required the Office of Management and Budget to transfer $10 million from the general fund into the program. The measure would have affected the Bank of North Dakota, local banks, and housing builders and developers seeking financing for housing projects, especially in counties with higher oil and gas tax revenue.
Sentiment
The bill did not advance, failing on House second reading by a vote of 8-85 on February 12, 2025. That vote suggests limited support in the chamber despite the bill’s focus on housing development and local lending. No committee transcript was provided, so the record available here shows the outcome more clearly than any detailed floor debate or committee sentiment.
Contention
The main likely points of contention were the use of $10 million in general fund money, the creation of a continuing appropriation, and the decision to route state support through local banks rather than direct housing grants or other programs. The higher loan cap for counties receiving substantial oil and gas tax allocations may also have raised equity concerns about regional differences in access to funding. Supporters appear to have viewed the bill as a targeted way to expand housing supply, while opponents likely questioned the fiscal commitment, program structure, or necessity of a new fund.
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.
A higher education infrastructure revolving loan fund; to provide an appropriation; to provide a transfer; and to provide for a legislative management report.
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 higher education infrastructure revolving loan fund; to provide an appropriation; to provide a transfer; and to provide for a legislative management report.
AN ACT to amend and reenact section 6-09-47 of the North Dakota Century Code, relating to a medical facility emergency operating loan program under the medical facility infrastructure loan fund; to provide an appropriation; to provide a transfer; to provide an effective date; and to provide an expiration date.
The bioscience innovation grant program; to provide a report; to provide a continuing appropriation; to provide an appropriation; to provide for a transfer; and to declare an emergency.
A BILL for an Act to create and enact a new chapter to title 54 of the North Dakota Century Code, relating to a life science research council; to repeal section 4.1-01-20.1 of the North Dakota Century Code, relating to the bioscience innovation grant program; to provide a report; to provide a continuing appropriation; to provide an appropriation; to provide for a transfer; and to declare an emergency.
The criminal justice data information sharing system; to provide for a legislative management report; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.
AN ACT to create and enact a new section to chapter 54-12 of the North Dakota Century Code, relating to the collection of data on missing persons and the missing indigenous people task force; to amend and reenact section 54-12-34 of the North Dakota Century Code, relating to the criminal justice data information sharing system; to provide for a legislative management report; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.
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.