HB 1014 Summary

• Appropriates $410.3 million total ($39.1 million general fund) to the Industrial Commission and agencies under its control for the 2023-25 biennium, including funding for the Bank of North Dakota, Housing Finance Agency, Department of Mineral Resources, and Mill and Elevator Association.

• Transfers $140 million from Bank of North Dakota profits to the general fund and directs $61.5 million in Bank profits to economic development programs including beginning farmer loans, community expansion funds, and small business development.

• Increases the clean sustainable energy authority line of credit limit from $250 million to $390 million and authorizes the North Dakota pipeline authority to borrow up to $60 million through a line of credit from the Bank of North Dakota for capacity position purchases.

• Allocates $60.3 million from the strategic investment and improvements fund for pipeline leak detection ($3 million), clean sustainable energy grants and loans ($60 million), and rare earth minerals and underground energy storage research ($7.5 million).

• Appropriates $13.75 million to the housing incentive fund and establishes reporting requirements and studies on lignite marketing feasibility, future lignite generation facilities, employee recruitment/retention programs, and critical minerals research.