ND HB1161

Amends North Dakota Century Code section 10-30.5-12 to modify the entrepreneurship award program administered by the corporation, effective through July 31, 2015.

Increases maximum award to entrepreneurial centers from fifty to sixty thousand dollars, with a limit of one award per year and five total awards per center.

Requires entrepreneurial centers and entrepreneurs to provide one dollar of nonstate matching funds for each dollar of state funds received, with matching funds limited to cash only.

Caps entrepreneur awards at twenty thousand dollars per business and requires one dollar of nonstate matching funds for every four dollars of state funds received.

Requires all award recipients to repay funds according to a payback schedule based on their ability to pay, with entrepreneur repayment potentially structured as debt, equity, or a combination thereof.