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HB 1011 North Dakota House · 69th Legislative Assembly (2025-26)

A BILL for an Act to provide an appropriation for defraying the expenses of the securities department; and to amend and reenact subsection 8 of section 10-04-10 of the North Dakota Century Code, relating to fees charged by the securities department.

House Bill 1011 provides an appropriation to cover the operational expenses of the North Dakota securities department. The bill also amends an existing section of the North Dakota Century Code (subsection 8 of section 10-04-10) to revise the fees charged by the securities department. These changes directly affect the funding for the department and the fee structure for individuals or entities regulated by it.
Issues: ✓ Budget & TaxesSupports Budget & TaxesProvides appropriation for securities department operations and revises fee structure, directly funding a state agency under budget/tax management.95% confidence
Bill status passed 3 of 5 stages cleared
Introduction
Jan 2025
Committee Review
Apr 2025
House Passage
Feb 2025
Senate Failed
Apr 2025
Governor
Introduced Jan 7, 2025 Last action Apr 16, 2025
Maddy AI version diff · 1 comparison

What changed between versions

INTRODUCED → FIRST ENGROSSMENT · 4 edits
MODERATE
The bill was amended to increase funding for the securities department and update fee schedules for registration and renewal. The appropriation for salaries and wages increased by $274,224, while operating expenses decreased by $113,259, resulting in a net increase of $219,137 in total special funds. Additionally, fees for broker-dealers, agents, investment advisers, and their representatives were raised.
Scope change
The bill's scope expanded to include amendments to the North Dakota Century Code regarding securities department fees, in addition to the original appropriations.
FISCAL

Total special funds appropriation increased from $3,169,193 to $3,388,330, with a new line item for 'New and vacant FTE pool' added.

REQUIREMENT

New section added limiting how funds from the new and vacant FTE pool can be used, requiring transfer requests to the office of management and budget.

Fees for securities department registrations and renewals were increased: broker-dealer fees from $200 to $240, agent fees from $60 to $75, investment adviser fees from $100 to $120, and investment adviser representative fees from $50 to $60.

TECHNICAL

Bill number designation changed from 'HOUSE BILL NO. 1011' to 'ENGROSSED HOUSE BILL NO. 1011' and section number updated from 25.0155.01000 to 25.0155.02000.

Floor votes · Senate Apr 16, 2025 · House Feb 6, 2025

How they voted

0–47
Failed
Total votes 47
Apr 16, 2025
D Democratic5
5 Nay
100% Nay
R Republican42
42 Nay
100% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
13
Key actions
7
Committee
5
Apr 16, 2025
Vote failed
Senate Vote: fail (0-47)
senate
Apr 14, 2025
Upper · Passed
Reported back, do not pass, placed on calendar 14 0 2
upper
Mar 10, 2025
Upper · Passed
Committee Hearing 08:30
upper
Feb 11, 2025
Introduced
Introduced, first reading, referred Appropriations Committee
upper
Feb 6, 2025
Lower · Passed
Second reading, passed, yeas 91 nays 2
lower
Jan 31, 2025
Lower · Passed
Amendment adopted, placed on calendar
lower
Jan 30, 2025
Lower · Passed
Reported back amended, do pass, amendment placed on calendar 23 0 0
lower
Jan 20, 2025
Lower · Passed
Committee Hearing 08:30
lower
Jan 13, 2025
Lower · Passed
Committee Hearing 09:00
lower
Jan 7, 2025
Introduced
Introduced, first reading, referred Appropriations Committee
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.