Bill > HB1128

This bill creates a new higher education infrastructure revolving loan fund administered by the Bank of North Dakota to provide low-interest loans to state higher education institutions for specific infrastructure projects. The fund will support capital construction projects related to student housing, student dining, and centralized campus heating, with loans not exceeding 20 years or the project's useful life and carrying an interest rate of no more than 3.5%. Each qualified institution can have up to $10 million in outstanding loans, and the Bank will assess the applicant's ability to repay. The state will initially transfer $25 million to establish the fund during the 2025-2027 biennium, with loan repayments and interest being deposited back into the fund. The Bank can use a small portion of interest payments (up to 0.5%) to cover administrative costs and may adopt policies to manage the program. Additionally, the North Dakota university system is required to provide a report to the legislative management by September 1, 2026, detailing the fund's status and any financial benefits for students.

Budget and Finance, Education

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1128.html