A housing development loan fund; to provide an appropriation;...
A BILL for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.
HB1362 proposes the creation of a housing development loan fund in North Dakota. This fund would provide financial support for housing projects, aiming to increase affordable housing options in the state. It would be funded through an appropriation and a continuing appropriation, with provisions for transfers and an expiration date. The bill was introduced on January 13, 2025, and referred to the Industry, Business and Labor committee. After a hearing on February 4, 2025, it was reported back from the committee with a recommendation not to pass. On February 10, 2025, the bill was placed on the House calendar but failed to pass in a second reading on February 12, 2025, with 8 votes in favor and 85 against.
This bill would primarily affect housing developers and prospective homeowners in North Dakota by providing financial assistance for housing projects. The fund aims to stimulate housing development, which could increase the availability of affordable housing options for residents.
As of the latest update on February 12, 2025, HB1362 has failed to pass in the House and is no longer under consideration. Key actions include its introduction, referral to the Industry, Business and Labor committee, a hearing, and its eventual failure to pass in a second reading.
