Establishes a legacy fund school construction assistance loan fund and revises the legacy and budget stabilization fund advisory board.
The bill creates a legacy fund school construction assistance loan fund administered by the Bank of North Dakota. It allows school districts to apply for loans up to $10 million per thousand students for construction projects. The fund is appropriated on a continuing basis. The bill also amends the legacy and budget stabilization fund advisory board, which develops recommendations for investing the legacy fund and budget stabilization fund. The board consists of members from the Senate and House, the Bank of North Dakota, the tax commissioner, and the director of the office of funds.
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