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ND HB1199
Bill
Status
2/3/2023
Primary Sponsor
Mike Lefor
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AI Summary
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Appropriates $2,000,000 from the general fund to the Department of Career and Technical Education to pay accrued interest on a Bank of North Dakota line of credit for the statewide area and career center initiative grant program through June 30, 2025.
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Authorizes the Bank of North Dakota to extend a line of credit not exceeding $68,276,228 to the Department of Career and Technical Education for grants to build career academies, with repayment from general fund and federal coronavirus capital projects fund appropriations.
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Exempts $68,276,228 in federal coronavirus capital projects fund appropriations from spending restrictions and makes it available to the Department through June 30, 2025, allowing awards to foundations working with school districts on state board-approved career academy projects.
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Directs the Bank of North Dakota to transfer $20,000,000 from its current earnings and undivided profits to the partnership in assisting community expansion fund by June 30, 2023.
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Declares the Act an emergency measure.
Legislative Description
AN ACT to provide an appropriation to the department of career and technical education for the statewide area and career center initiative grant program; to authorize a Bank of North Dakota line of credit; to provide an exemption; to provide for a transfer; and to declare an emergency.
Last Action
Filed with Secretary Of State 02/02
2/7/2023