HB 1014 Summary

• Appropriates $253.7 million total ($35.0 million general fund, $218.7 million special funds) to the state industrial commission and agencies under its control for the 2015-17 biennium.

• Establishes Bank of North Dakota transfers totaling $45 million to housing incentive fund ($10 million), partnership in assisting community expansion fund ($28 million), agriculture and biofuels partnership funds ($5 million combined), and beginning farmer revolving loan fund ($7 million).

• Creates North Dakota financial center as Bank of North Dakota building requiring market-rate lease to other state agencies and property tax payments; funding contingent on Bank's 2015 net income exceeding $125 million.

• Increases housing incentive fund tax credit aggregate limit from $20 million to $30 million and extends effective date from June 30, 2015 to June 30, 2017.

• Authorizes $4.5 million from lignite research fund for independent marketing feasibility studies and related lignite industry development activities, and $13.6 million for core library expansion project using strategic investment and improvements fund.