Senate Bill No. 2287 - Summary

• Modifies the fuel production facility loan guarantee program administered by the Bank of North Dakota, with changes effective through July 31, 2015 and additional changes effective after that date.

• Through July 31, 2015: Allows guarantees up to 30% of total loan amount with maximum single loan guarantee of $12.5 million and total outstanding guarantees not to exceed $25 million.

• After July 31, 2015: Reduces maximum single loan guarantee to $2.5 million and total outstanding guarantees cap to $10 million, while maintaining 25% guarantee limit on individual loans.

• Expands eligible fuel production to include "grain-related and biomass farm products" (after July 31, 2015) and requires facilities to serve the community in or near their location.

• Modifies reserve fund requirements and repeals the loan guarantee provisions section effective August 1, 2015.