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ND HB1408
Bill
Status
1/16/2017
Primary Sponsor
Marvin Nelson
Click for details
AI Summary
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Creates a natural gas pipeline infrastructure loan fund to provide interest-free loans for developing natural gas distribution pipeline infrastructure
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Funds the loan fund through transfers from the legacy fund and gross production tax revenue from gas producers who received loans under this Act
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Appropriates $100,000,000 from the legacy fund principal to the loan fund during the biennium from July 1, 2017, through June 30, 2019
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Directs the authority to prioritize loan funding for pipeline projects serving areas without existing natural gas service or low-income areas of the state
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Requires all gross production tax revenue from gas purchased by producers receiving loans under this Act to be deposited back into the natural gas pipeline infrastructure loan fund
Legislative Description
Gross production tax revenue; and to provide for a transfer.
Last Action
Second reading, failed to pass, yeas 18 nays 72
2/15/2017