Loading chat...
ND SB2306
Bill
Status
4/21/2011
Primary Sponsor
Craig Headland
Click for details
AI Summary
-
Increases the maximum dollar amount of loan guarantees on a single loan from $2.5 million to $12 million for agriculturally derived fuel production facilities.
-
Raises the total cap on all outstanding loan guarantees from $10 million to $25 million at any given time.
-
Authorizes the Bank of North Dakota to request transfers from the lands and minerals trust to maintain the guarantee reserve fund, with transfers not exceeding $6.25 million total.
-
Repeals section 6-09.7-08, which previously limited state funding for recipients of fuel production facility loan guarantees.
-
Expires July 31, 2013, after which the amendments become ineffective.
Legislative Description
State funding limitations for recipients of fuel production facility loan guarantees; and to provide an expiration date.
Last Action
Filed with Secretary Of State 04/20
4/25/2011