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ND SB2397
Bill
Status
10/25/2023
Primary Sponsor
Legislative Management
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AI Summary
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Changes the tax levy authority for joint water resource boards in Red River, James River, Mouse River, Missouri River, and Devils Lake drainage basins from mandatory ("shall") to discretionary ("may"), capping the levy at two mills on taxable real property valuation.
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Repeals section 5 of Senate Bill No. 2020, which previously required a transfer of Bank of North Dakota profits to the water infrastructure revolving loan fund.
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Authorizes the Bank of North Dakota to extend a line of credit not to exceed $100,000,000 to the department of water resources for transfer to the water infrastructure revolving loan fund to provide local cost-share loans for state water commission-approved projects.
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Establishes the line of credit interest rate at the prevailing rate charged to North Dakota government entities, with repayment to be requested from the sixty-ninth legislative assembly through a deficiency appropriation.
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Applies retroactively to July 1, 2023, and becomes effective immediately upon filing with the secretary of state.
Legislative Description
A transfer of Bank of North Dakota profits to the water infrastructure revolving loan fund; to provide for a transfer; to provide for retroactive application; and to provide an effective date.
Last Action
Filed with Secretary Of State 10/25
10/30/2023