North Dakota Senate Bill SB2220

North Dakota 2023-2024 Regular Session

• Introduced: 1/12/23
• Refer: 1/12/23
• Report DNP: 1/31/23

Caption

An allocation from the legacy earnings fund and eligible projects under the housing incentive fund; to provide an effective date; and to declare an emergency.

Impact

If passed, SB2220 would systematically address unmet housing needs by setting clear guidelines for eligible projects using the housing incentive fund. The bill allows for support towards a range of initiatives, not limited to multifamily housing but also extending to single family rehabilitations and barrier mitigation services. This legislative action could significantly boost local economies by not only securing housing but also creating jobs related to construction and community development. The inclusion of rural housing projects reflects an awareness of challenges in less populated areas.

Summary

Senate Bill 2220 focuses on amending the North Dakota Century Code to provide a structured allocation from the legacy earnings fund. The bill intends to ensure that significant investment is directed towards addressing housing needs within the state. Key to this initiative is the allocation of $50 million to the housing incentive fund, which supports various housing projects, including new construction, rehabilitation, and preservation of multifamily housing units, as well as emergency assistance aimed at preventing homelessness. The overall goal is to enhance the availability of affordable housing and improve living conditions for residents in North Dakota.

Contention

Despite its potential benefits, SB2220 may face scrutiny and opposition, particularly concerning budget allocations from the legacy earnings fund. Some legislators might express concerns over the prioritization of housing funds, especially if it affects other crucial areas such as education or healthcare. Additionally, the necessity for effective guidelines and oversight in managing the housing incentive fund could provoke discussions on accountability and transparency, ensuring that the funds are utilized efficiently and that local communities' specific needs are adequately met.