ND SB2309

Creates a micro grant program administered by the Department of Commerce in consultation with regional councils to provide matching funds for qualifying recipients.

Eligible recipients must be North Dakota residents who are new Americans (naturalized citizens), Native Americans, or low-income individuals, and must also be recipients of a United States Small Business Administration microloan.

Micro grants cannot exceed the lesser of $5,000 or 25 percent of the recipient's federal SBA microloan amount.

Department of Commerce shall provide dollar-for-dollar matching funds to regional councils for the purpose of funding micro grants, with additional qualifications to be established by the department.

Appropriates $480,000 from the general fund to the Department of Commerce for matching funds to regional planning councils for the biennium beginning July 1, 2015, and ending June 30, 2017.