Bill > SB2272

This bill amends and creates sections of the North Dakota Century Code related to the skilled workforce student loan repayment program and the skilled workforce scholarship program. The key provisions are: 1. Creates a skilled workforce student loan repayment program fund and skilled workforce scholarship fund, appropriated on a continuing basis to the State Board of Higher Education for student loan repayment grants and scholarships, respectively. 2. Establishes eligibility criteria for the student loan repayment program, including completion of a qualifying educational program, maintaining residency and employment in North Dakota, and limits on the total amount of repayment grants. 3. Establishes eligibility criteria for the scholarship program, including enrollment in a qualifying educational program, maintaining a minimum GPA, and agreeing to reside and work in North Dakota for at least 3 years after completion. 4. Allows the State Board of Higher Education to retain up to 1.5% of appropriated funds for program administration and promotion. 5. Transfers $2.25 million each from the Bank of North Dakota's earnings to the student loan repayment and scholarship funds for the 2021-2023 biennium. 6. Provides effective dates for the various sections, with the repeal of the previous program sections taking effect on July 1, 2023.

Budget and Finance, Education

https://www.legis.nd.gov/assembly/67-2021/bill-actions/ba2272.html