Repealed by S.L. 2017, ch. 12, § 26.
6-09-46. Rebuilders loan program - Loan fund - Continuing appropriation - Requirements. Repealed by S.L. 2021, ch. 79, § 2.
06-09-46.1. Rebuilders home loan program - Rebuilders home loan fund - Continuing appropriation - Requirements. Repealed by S.L. 2021, ch. 79, § 2.
6-09-46.2. Rebuilders loan program - Rebuilders permanent loan fund - Continuing appropriation. 1. The Bank of North Dakota shall develop a rebuilders loan program to make or participate in loans to North Dakota residents as a result of: a. A presidentially declared disaster in the state; b. A governor-declared disaster in the state; c. An emergency in the state; d. A weather-related incident in the state as determined by the governor; or e. An economic hardship as determined by the governor. 2. Under the rebuilders loan program, the Bank shall develop and implement specific loan programs to respond to the specific needs resulting from a disaster, emergency, incident, or hardship. The Bank may fund the loan from any available funding in the rebuilders permanent loan fund and may accept private sector donations and funds from the federal government. 3. Upon request of the Bank of North Dakota, the governor shall furnish the Bank with information relating to the nature and amount of state and local resources that have been or will be committed to alleviating the results of the disaster or emergency, an estimate of the amount and severity of the damage and the impact on the private and public sectors, and an estimate of the type and amount of assistance needed. 4. To apply for a loan under the program, a person shall apply to the originating financial institution. Upon Bank of North Dakota approval of an application, the Bank shall make a loan in accordance with the loan program established under this section. The Bank shall establish a loan application period, which may not exceed a period of eighteen months from the date of the declaration of the disaster or emergency. 5. Excluding the rebuilders and rebuilders home loans transferred to the fund, the Bank of North Dakota shall deposit in the fund all principal and interest paid on the loans made from the fund. The Bank may deduct from interest payments received on a loan under the program a service fee for administering the fund for the Bank and the originating financial institution. The fund must be audited annually pursuant to section 6-09-29, and the cost of the audit and any other actual costs incurred by the Bank on behalf of the fund, must be paid by the fund. 6. There is created in the state treasury the rebuilders permanent loan fund administered by the Bank of North Dakota. The fund consists of all moneys transferred to the fund by the legislative assembly, interest on moneys in the fund, and payments to the fund of principal and interest on loans made from the fund. All moneys in the fund are appropriated to the Bank on a continuing basis for the rebuilders loan program. 7. If approved by the industrial commission, the fund may borrow from the Bank of North Dakota to provide funding for loans under this section. A loan made to the fund by the Bank must be repaid with principal and interest payment received by the rebuilders permanent loan fund or with moneys appropriated by the legislative assembly. 8. The Bank of North Dakota shall adopt policies to implement this section.
6-09-47. Medical facility infrastructure loan fund - Medical facility infrastructure loan program - Rural health loan program - Medical facility emergency operating loan program - Continuing appropriation - Audit and costs of administration. (Effective through June 30, 2027) 1. The Bank of North Dakota shall administer a medical facility infrastructure loan program to provide loans to medical facilities to conduct construction that improves the health care infrastructure in the state or improves access to existing nonprofit health care providers in the state. The construction project may include land purchases and may include purchase, lease, erection, or improvement of any structure or facility to
the extent the governing board of the health care facility has the authority to authorize such activity. 2. In order to be eligible under the medical facility infrastructure loan program, the applicant must be the governing board of the health care facility which shall submit an application to the Bank. The application must: a. Detail the proposed construction project, which must be a project of at least one million dollars and which is expected to be utilized for at least thirty years; b. Demonstrate the need and long-term viability of the construction project; and c. Include financial information as the Bank may determine appropriate to determine eligibility, such as whether there are alternative financing methods. 3. A medical facility infrastructure loan provided under this section: a. May not exceed the lesser of fifteen million dollars or seventy-five percent of the actual cost of the project; b. Must have an interest rate equal to two percent; and c. Must provide a repayment schedule of no longer than twenty-five years. 4. A recipient of a medical facility infrastructure loan under this section shall complete the financed construction project within twenty-four months of approval of the loan. Failure to comply with this subsection may result in forfeiture of the entire loan received under this section. 5. The Bank shall administer a rural health loan program to provide short-term gap financing to grant recipients under the federal rural health transformation program with approved projects and a demonstrated financial need. a. To be eligible for a rural health loan under this subsection, the applicant: (1) Must be approved for a grant by the department of health and human services and the centers for Medicare and Medicaid services, as applicable, under the federal rural health transformation program based on policies developed by the department of health and human services. (2) Provide information as requested by the Bank, including information substantiating a demonstrated financial need and evidence of project approval from the department of health and human services under the federal rural health transformation program. b. A loan under this subsection must have: (1) An annual interest rate that does not exceed two percent; (2) A term that complies with the criteria established by the department of health and human services, in accordance with the federal rural health transformation program, and does not exceed three years. c. From the repayment of loans under this subsection, the principal portion must be used to replenish the Bank's profits which were transferred to the fund for the loans under this program, and interest portion must be deposited in the fund. 6. The Bank shall administer a medical facility emergency operating loan program to provide emergency operating loans to local nonprofit hospitals located in cities with a population of fewer than two thousand five hundred according to the most recent decennial census. a. To be eligible for an emergency operating loan under this subsection, the governing board of a health care facility shall: (1) Submit an application to the Bank by March 31, 2026; (2) Provide financial information as requested by the Bank to determine eligibility, including information on alternative financing and other funding sources; and (3) Provide an updated operating plan and cash flow projections indicating the feasibility of future operations after restructuring and sufficient financial resources to address any operating deficit and to repay the loan. b. A medical facility emergency operating loan under this subsection: (1) May not exceed five million dollars per qualified applicant; (2) Must have an annual interest rate that does not exceed two percent; and
(3) Must have a maximum term that does not exceed eleven years, unless a shorter term is required based on an analysis by the Bank, with the first year of the loan eligible for interest-only payments. 7. The medical facility infrastructure loan fund is a special fund in the state treasury. This fund is a revolving fund. All moneys transferred into the fund, interest on moneys in the fund, and collections of principal and interest on loans from the fund are appropriated to the Bank on a continuing basis for the purpose of providing loans under this section. 8. Moneys in the fund may be used for loans as provided under this section and to pay the costs of administration of the fund. Annually, the Bank may deduct a service fee for administering the fund. 9. The fund must be audited in accordance with section 6-09-29. The cost of the audit and any other actual costs incurred by the Bank on behalf of the fund must be paid from the fund. 10. The Bank shall deposit medical facility infrastructure loan repayments in the fund. Medical facility infrastructure loan fund - Medical facility infrastructure loan program - Rural health loan program - Continuing appropriation - Audit and costs of administration. (Effective after June 30, 2027) 1. The Bank of North Dakota shall administer a medical facility infrastructure loan program to provide loans to medical facilities to conduct construction that improves the health care infrastructure in the state or improves access to existing nonprofit health care providers in the state. The construction project may include land purchases and may include purchase, lease, erection, or improvement of any structure or facility to the extent the governing board of the health care facility has the authority to authorize such activity. 2. In order to be eligible under the medical facility infrastructure loan program, the applicant must be the governing board of the health care facility which shall submit an application to the Bank. The application must: a. Detail the proposed construction project, which must be a project of at least one million dollars and which is expected to be utilized for at least thirty years; b. Demonstrate the need and long-term viability of the construction project; and c. Include financial information as the Bank may determine appropriate to determine eligibility, such as whether there are alternative financing methods. 3. A medical facility infrastructure loan provided under this section: a. May not exceed the lesser of fifteen million dollars or seventy-five percent of the actual cost of the project; b. Must have an interest rate equal to two percent; and c. Must provide a repayment schedule of no longer than twenty-five years. 4. A recipient of a medical facility infrastructure loan under this section shall complete the financed construction project within twenty-four months of approval of the loan. Failure to comply with this subsection may result in forfeiture of the entire loan received under this section. 5. The Bank shall administer a rural health loan program to provide short-term gap financing to grant recipients under the federal rural health transformation program with approved projects and a demonstrated financial need. a. To be eligible for a rural health loan under this subsection, the applicant: (1) Must be approved for a grant by the department of health and human services and the centers for Medicare and Medicaid services, as applicable, under the federal rural health transformation program based on policies developed by the department of health and human services. (2) Provide information as requested by the Bank, including information substantiating a demonstrated financial need and evidence of project approval from the department of health and human services under the federal rural health transformation program. b. A loan under this subsection must have: (1) An annual interest rate that does not exceed two percent;
(2) A term that complies with the criteria established by the department of health and human services, in accordance with the federal rural health transformation program, and does not exceed three years. c. From the repayment of loans under this subsection, the principal portion must be used to replenish the Bank's profits which were transferred to the fund for the loans under this program, and interest portion must be deposited in the fund. 6. The medical facility infrastructure loan fund is a special fund in the state treasury. This fund is a revolving fund. All moneys transferred into the fund, interest on moneys in the fund, and collections of principal and interest on loans from the fund are appropriated to the Bank on a continuing basis for the purpose of providing loans under this section. 7. Moneys in the fund may be used for loans as provided under this section and to pay the costs of administration of the fund. Annually, the Bank may deduct a service fee for administering the fund. 8. The fund must be audited in accordance with section 6-09-29. The cost of the audit and any other actual costs incurred by the Bank on behalf of the fund must be paid from the fund. 9. The Bank shall deposit medical facility infrastructure loan repayments in the fund.