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ND SB2141
Bill
Status
1/3/2019
Primary Sponsor
Oley Larsen
Click for details
AI Summary
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Bank of North Dakota allocates $5,000 at birth for each eligible individual whose both parents are North Dakota residents and U.S. citizens
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Allocation is released to an institution of higher education under state board control when individual enrolls, but individual becomes ineligible for other state-funded scholarships
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Individual may request allocation applied to principal and interest on first business loan, farm loan, or home mortgage loan after turning 20 if they do not enroll in higher education
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Allocation continues under Bank administration until individual enters a nursing home in North Dakota, at which point funds are credited to nursing home account
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Unallocated funds with accrued interest transfer to legacy fund if not released under education, loan, or nursing home provisions, or if individual is convicted of a felony
Legislative Description
The allocation of resources at the time of a child's birth; and to provide legislative intent.
Last Action
Second reading, failed to pass, yeas 1 nays 46
1/25/2019