HB 1014 Summary

• Appropriates $241.7 million total ($34.9 million general fund, $206.8 million special funds) to the industrial commission and its agencies for the 2019-21 biennium, including the Bank of North Dakota, Housing Finance Agency, and Mill and Elevator Association.

• Requires Bank of North Dakota to transfer $140 million in current earnings and accumulated profits to the general fund during the 2019-21 biennium, and allocates $26 million to partnership in assisting community expansion funds, $6 million to beginning farmer revolving loan fund, and $15 million to North Dakota development fund.

• Creates a new rebuilders home loan program providing up to $75,000 in low-interest (1% per year, 20-year term) loans to North Dakota residents affected by 2019 river flooding for home rebuilding, with 24-month payment deferral for homeowners.

• Amends housing incentive fund requirements reducing the minimum percentage for developing communities from 25% to 15%, and establishes housing for essential service workers as first priority in the fund's allocation plan.

• Declares sections 11, 15, and 20 as emergency measures and authorizes various studies including produced water recycling, oil price hedging strategies, and lignite marketing feasibility.