Bill > SB2039

This bill creates and enacts two new sections to Chapter 6-09 of the North Dakota Century Code, relating to the development and implementation of a skilled workforce student loan repayment program. The Bank of North Dakota is tasked with adopting rules to develop, implement, promote, and administer the program in conjunction with the North Dakota University System and the North Dakota Workforce Development Council. The program aims to attract and retain individuals with professional or technical skills in high demand in the state. The bill establishes a skilled workforce student loan repayment program fund as a revolving fund, and requires the Bank of North Dakota to transfer $5 million from its current earnings and undivided profits to the fund during the period beginning with the effective date of the Act and ending June 30, 2021. The bill also includes an expiration date for the program fund and declares the Act to be an emergency measure.