ND SB2101

Amends the coal development trust fund to redirect income (including interest payments on loans) first toward replacing uncollectible loans, with remaining balance deposited in the school construction assistance loan general fund instead of a separate school construction assistance loangeneral fund.

Clarifies that the board of university and school lands administers the fund for loans to coal-impacted counties, cities, and school districts under section 57-62-03 and loans to school districts under chapter 15.1-36.

Requires loan principal payments to be redeposited in the trust fund and maintains the fund as perpetual and held in trust as a replacement for depleted natural resources.

Repeals section 15-03-05.1 of the North Dakota Century Code relating to calculation of coal development trust fund income.

Passed the Senate 45-0 (2 absent) and House 90-0 (4 absent).