Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Conference committee approves amendment to HB 1619 to make $15 million one‑time SIF loan for long‑term care projects
Summary
A conference committee on House Bill 1619 approved an amendment to convert a proposed revolving loan fund into a one‑time $15 million loan from the SIF to the Bank of North Dakota, set repayment and interest terms, and direct loan proceeds back into the SIF.
A conference committee on House Bill 1619 voted to adopt an amendment that converts a proposed revolving loan fund for long‑term care infrastructure into a one‑time $15,000,000 loan from the State Investment Fund (SIF) to the Bank of North Dakota (BND).
The change, offered by Senator Thomas and seconded by Representative Anderson, also standardizes interest at 2% for comparable infrastructure loans, sets repayment terms for the program and specifies that proceeds and interest payments from the loan will be returned to the SIF. The motion passed on a roll call with members voting in favor.
The amendment replaces a revolving loan fund model with a single SIF loan and instructs BND to use its existing loan process to advertise the opportunity, coordinate with the Long Term Care Association and other interested parties, accept applications and evaluate projects on need and value to state residents. "So instead of it being a revolving…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
