AN ACT to amend and reenact section 6-09-47 of the North Dakota Century Code, relating to a medical facility emergency operating loan program under the medical facility infrastructure loan fund; to provide an appropriation; to provide a transfer; to provide an effective date; and to provide an expiration date.
What changed between versions
Added a new emergency operating loan program for local nonprofit hospitals in small cities (population under 2,500) to help with operating deficits.
Infrastructure loans now require projects to be at least $1 million and expected to last 30 years, with applications due by March 31, 2026 for emergency loans.
Added a one-time $5 million appropriation from the general fund to finance the new emergency operating loan program through June 30, 2027.
Emergency loans are limited to $5 million per applicant with a maximum 11-year term at 2% interest, including a year of interest-only payments.
Set an expiration date of June 30, 2037 for the Act, making it a temporary program rather than permanent.
Corrected formatting errors in section numbering and removed duplicate text throughout the document.