Bill > HB1362

This bill establishes a housing development loan fund administered by the Bank of North Dakota to provide low-interest loans to local banks for housing development programs. The fund will receive a one-time transfer of $10 million from the general fund and will offer loans up to $5 million per county (or $10 million in counties receiving high oil and gas tax revenues), with a fixed 2% interest rate and repayment due by June 30, 2030. Local banks can use these loans to assist housing builders and developers in their specific counties, with the Bank allowed to use a small portion of loan interest (up to 0.5%) to cover administrative costs and audit expenses. All principal and interest payments will be deposited back into the fund, which is appropriated on a continuing basis. The Bank has the authority to establish policies and guidelines for the loan program, and the entire balance of the fund will be transferred to the general fund on June 30, 2030. The bill is considered an emergency measure and will be effective through June 30, 2030, after which it becomes ineffective.

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https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1362.html