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Sister bill would create $100 million revolving loan fund to finance long‑term care construction and renovation (HB1619)
Summary
House Bill 1619 would establish a $100 million long‑term care facility infrastructure revolving loan fund, administered by the Bank of North Dakota, to provide low‑interest loans (capped at $10 million per project, not to exceed 50% of project costs) with repayment terms up to 30 years.
Bismarck — The House Human Services Committee heard House Bill 1619, the companion to HB1550, which would create a $100 million revolving loan fund to provide low‑interest loans to nursing and basic care facilities for construction, renovation and equipment upgrades.
Rep. Emily O’Brien (District 42) introduced the bill and described it as the lending companion to HB1550’s guarantee program. The fund would be administered by the Bank of North Dakota and structured as a revolving fund so repayments would be available for future loans. “The fund…
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