This bill proposes an appropriation for the industrial commission and its associated agencies, detailing funding allocations for the biennium from July 1, 2025, to June 30, 2027. It allocates a total of $137,862,428 for the industrial commission, $76,111,404 for the Bank of North Dakota, and $69,788,957 for the Housing Finance Agency. Key funding initiatives include $10 million for homeless programs and $25 million from the strategic investment and improvements fund to the housing incentive fund. Additionally, the bill outlines a transfer of $140 million from the Bank of North Dakota's profits to the general fund and specifies allocations for economic development programs. The bill also amends existing laws regarding the confidentiality of records at the Bank of North Dakota, specifically removing references to indirect financing and loan forgiveness from public disclosure and establishing new exemptions for certain records, such as bond insurance and cyber liability coverage. It stipulates that loan funds cannot be used to refinance existing debt or for relocating businesses within North Dakota, with a maximum interest rate buydown of $500,000 per loan, potentially increasing to $1 million for projects with substantial economic impact. Furthermore, it includes a $6 million transfer from the strategic investment and improvements fund for a salt cavern underground energy storage research project and mandates a legislative management study on homelessness during the 2025-26 interim.

Statutes affected:
Prepared by the Legislative Council staff for Senate Appropriations - Education and Environment Division Committee: 6-08.1-02, 6-09-35, 6-09.14-04
FIRST ENGROSSMENT: 6-08.1-02, 6-09-35, 6-09.14-04