North DakotaNorth Dakota sets aside up to $15 million for care facility loans
The Bank of North Dakota administers loans for nursing and basic care facility projects, with up to $15 million available during the 2025–2027 budget period.
What it does
The Bank of North Dakota administers loans for nursing and basic care facilities to renovate or build, including related land and building work the facility is allowed to authorize.
Long-term care facility loans may cover up to half of project costs, capped at $10 million per project, with interest no higher than 2% and repayment within 20 years.
The Bank of North Dakota has up to $15 million from available fund money for long-term care facility infrastructure loans.
The text sets a cap of the lesser of $15 million or 75% of project costs for loans under the medical facility loan fund section, with repayment within 25 years.
Argument forFacilities could use loans with interest capped at 2% to pay for needed renovations or construction over time.
Argument againstFacilities might lose the entire loan if they cannot finish the funded project within two years of approval.
More detail
The Bank of North Dakota administers loans for nursing and basic care facility projects. The loans are for nursing and basic care facilities. A facility's governing body must apply, describe the project, show its need and long-term viability, and provide financial information the Bank requests. Projects may renovate or build facilities. Construction may include buying land or buying, leasing, building, or improving a structure, if the governing body has authority to approve that work. Recipients must finish funded projects within 24 months after loan approval. Failure to meet the deadline may result in losing the entire loan.
Loans may cover up to half of project costs, with a $10 million cap per project, interest no higher than 2%, and repayment within 20 years. These limits apply to loans under the long-term care facility infrastructure loan program. The Bank may deduct a service fee from interest payments to cover program costs. The fee may not exceed one-half of one percent of the outstanding loan balance.
The Bank of North Dakota has an appropriation of up to $15 million for long-term care facility infrastructure loans. The appropriation is for loans under the long-term care facility infrastructure loan program. The money comes from amounts in the Strategic Investment and Improvements Fund that have not already been appropriated. The Bank may use less than $15 million if less is needed. The appropriation covers the two-year period from July 1, 2025, through June 30, 2027.
Loans under the medical facility loan fund section may cover up to the lesser of $15 million or 75% of project costs, with repayment within 25 years. These terms apply to loans provided under section 6-09-47. The printed interest-rate wording is unclear, so this record does not state a rate.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 11Filed with Secretary Of State 05/06Latest
- May 17Signed by Governor Kelly Armstrong 05/05Became Law
- May 2Sent to GovernorTo Governor
- May 2Signed by Speaker
- May 2Signed by President
- May 1Second reading, passed as amended, yeas 46 nays 0Major
- Vote recorded Motion for Final Passage on HB 1619. Result: pass.Upper
- Vote recorded Motion for Final Passage on HB 1619. Result: pass.Lower
- May 1Conference committee report adopted
- May 1Reported back from conference committee, in place of, placed on calendarMinor
- May 1Second reading, passed, yeas 79 nays 11Major
- May 1Conference committee report adopted
- Apr 29Reported back from conference committee, in place of, placed on calendarMinor
- Apr 25Conference committee appointed Davison Schaible Thomas
- Apr 23Conference committee appointed Bosch B. Anderson Mitskog
- Apr 23Refused to concur
- Apr 17Returned to House (12)
- Vote recorded Motion for Final Passage on HB 1619. Result: pass.Upper
- Apr 17Second reading, passed as amended, yeas 47 nays 0Passed Senate
- Apr 17Amendment adopted, placed on calendar
- Apr 16Reported back amended, do pass, amendment placed on calendar 16 0 0Minor
- Mar 26Rereferred to Appropriations
- Mar 26Amendment adopted
- Mar 25Reported back amended, do pass, amendment placed on calendar 6 0 0Minor
- Mar 19Committee Hearing 09:00
- Mar 7Introduced, first reading, referred Human Services CommitteeMinor
- Feb 25Received from House
- Vote recorded Motion for Final Passage on HB 1619. Result: pass.Lower
- Feb 25Second reading, passed, yeas 83 nays 9Passed House
- Feb 24Reported back, do pass, place on calendar 16 3 4Minor
- Feb 12Rereferred to Appropriations
- Feb 12Amendment adopted
- Feb 11Reported back amended, do pass, amendment placed on calendar 12 0 1Minor
- Jan 28Committee Hearing 04:00
- Jan 20Introduced, first reading, referred Human Services CommitteeIntroduced
Healthcare