ND SB2127

Amends section 54-17-40 of the North Dakota Century Code to modify the housing incentive fund, a special revolving fund at the Bank of North Dakota managed by the housing finance agency.

Requires at least 15 percent of the fund to assist developing communities addressing unmet housing needs or housing shortages, and at least 10 percent to prevent homelessness through rental assistance, emergency assistance, barrier mitigation, or supportive services.

Requires the housing finance agency to prioritize housing for low and moderate income individuals and families, with preference given to projects serving households with lowest income and those with rent restrictions at or below HUD federal fair market rents or Section 8 payment standards.

Permits fund assistance for new construction, rehabilitation, preservation, acquisition of multifamily housing, gap assistance, matching funds, accessibility improvements, and assistance to qualify for secondary market loans.

Appropriates $50,000,000 from the general fund to the housing finance agency for grants to the housing incentive fund for the biennium July 1, 2021 through June 30, 2023.