Senate Bill No. 2014 Summary

• Appropriates $213,795,155 total funds to the Industrial Commission and agencies under its control for the 2017-19 biennium, including $25,408,987 from general fund

• Requires Bank of North Dakota to transfer $140,000,000 to the general fund and allocate $25,000,000 to various community expansion and loan programs during the biennium

• Increases student loan guarantee fees from unspecified amount to up to 18% of accumulated principal and interest for defaulted loans, and allows suspension of recreational hunting and fishing licenses for nonpayment of state guaranteed student loans

• Modifies coal development fund allocations by reducing permanent trust fund allocation from 30% to 15% and increasing lignite research fund allocation from unspecified to 15% of coal severance tax revenues

• Changes North Dakota Mill and Elevator profit transfers to general fund from 50% to 75% of annual earnings and undivided profits through June 30, 2019