North Dakota SB2403 establishes a medical facility emergency operating loan program for local nonprofit hospitals in cities with fewer than 2,500.
North Dakota SB2403 amends the North Dakota Century Code to establish a medical facility emergency operating loan program. This program, administered by the Bank of North Dakota, provides loans to local nonprofit hospitals in cities with fewer than 2,500 residents. The loans have a maximum amount of $5 million, an annual interest rate not exceeding two percent, and a term not exceeding eleven years. The program includes a one-time appropriation of $10 million from the general fund to the medical facility infrastructure loan fund.
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