ND HB1187

Creates a Bank of North Dakota rebuilders loan program to provide loans to North Dakota residents affected by presidentially or governor-declared disasters or emergencies.

Establishes a rebuilders permanent loan fund in the state treasury administered by the Bank, with all moneys in the fund continuously appropriated to the Bank for the rebuilders loan program.

Loan application period may not exceed 18 months from the date of disaster or emergency declaration, with applications submitted to originating financial institutions.

Repeals previous rebuilders loan program and rebuilders home loan program statutes (sections 6-09-46 and 6-09-46.1).

Transfers outstanding loans and moneys from previous rebuilders programs to the new permanent fund effective July 1, 2021, and transfers $30,374,209 in small employee loans made during the SARS-CoV-2 pandemic to the rebuilders permanent loan program.