ND SB2219

Creates a revolving fund in the Bank of North Dakota to provide no-interest loans to low-income and moderate-income homeowners for energy conservation measures in their homes.

Establishes income eligibility criteria at 150 percent or less of federal poverty guidelines, with individual loans capped at $6,000 per eligible homeowner.

For homeowner-occupied homes, loans must be repaid within 90 days of property sale or death, but are forgiven if the homeowner continues living in the home for 10 years after the contract execution.

For properties with eligible renters, homeowners must repay the loan in 10 equal annual payments unless the renter is evicted without sufficient cause within 12 months, triggering full repayment within one year.

Appropriates $1,000,000 from the general fund to the Bank of North Dakota for the biennium beginning July 1, 2013, and ending June 30, 2015, designated as a one-time funding item.