§ 21-12-04 — Requirements of allocations

The governor may establish, by executive order or proclamation, other procedures and
requirements for the proper allocation of the ceiling, which may include the following:

1. The procedure for notification of approval or disapproval of application for an
allocation.
2. The period during which the private activity bonds must be issued under an allocation
and a procedure for applying for an extension of that period.
3. A procedure for authorizing a carryforward to a governmental unit of all or a portion of
the excess of North Dakota's ceiling for any calendar year over the aggregate amount
of tax-exempt private activity bonds actually issued during that calendar year by
governmental units, to the extent and for the period for which a purpose is eligible to
be treated as a carryforward project under the Tax Reform Act.
4. Whether an allocation validly granted may be transferred between projects and
purposes by governmental units.
5. A procedure for reapplication if a request for an allocation by a governmental unit has
been disapproved.
6. A procedure for recapturing an allocation for which the period during which the
allocation is valid has expired.
7. Any additional procedures or requirements which the governor determines to be
necessary for the proper administration and to carry out the purposes of this chapter.