ND HB1623

Appropriates $397,873,940 in federal funds to the Department of Health and Human Services for the federal rural health transformation program, effective through June 30, 2027

Transfers up to $40,000,000 from Bank of North Dakota profits to the medical facility infrastructure loan fund to establish a rural health loan program providing short-term gap financing to federal grant recipients

Appropriates $600,000 to the Bank of North Dakota and authorizes 4 full-time positions to administer the rural health loan program

Rural health loans carry a maximum 2% annual interest rate with terms not exceeding 3 years, available to applicants approved for federal rural health transformation program grants who demonstrate financial need

Exempts program expenditures from certain state requirements including public building approval processes and standard procurement procedures; requires grant recipients to acknowledge funding is temporary