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Bill > HB1199

ND HB1199

ND HB1199
AN ACT to provide an appropriation to the department of career and technical education for the statewide area and career center initiative grant program; to authorize a Bank of North Dakota line of credit; to provide an exemption; to provide for a transfer; and to declare an emergency.

summary

Introduced
01/09/2023
In Committee
01/30/2023
Crossed Over
01/23/2023
Passed
02/01/2023
Dead
Signed/Enacted/Adopted
02/03/2023

Introduced Session

68th Legislative Assembly

Bill Summary

AN ACT to provide an appropriation to the department of career and technical education for the statewide area and career center initiative grant program; to authorize a Bank of North Dakota line of credit; to provide an exemption; to provide for a transfer; and to declare an emergency.

AI Summary

This bill provides a $2 million appropriation from the general fund to the Department of Career and Technical Education (DCTE) to pay accrued interest on a Bank of North Dakota line of credit used for the statewide area and career center initiative grant program. It also authorizes the Bank of North Dakota to extend a $68.28 million line of credit to the DCTE for the grant program, with the department responsible for repaying the line of credit and interest. Additionally, the bill exempts the $68.28 million appropriation from the federal coronavirus capital projects fund for the grant program in 2021 from lapsing, allowing the DCTE to continue using those funds through the 2023-2025 biennium. Finally, the bill transfers $20 million from the Bank of North Dakota's earnings and undivided profits to the Partnership in Assisting Community Expansion (PACE) fund, and declares the Act an emergency measure.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Filed with Secretary Of State 02/02 (on 02/07/2023)

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