BISMARCK, NORTH DAKOTA (AP) — Republican North Dakota House leaders on Friday signalled a reluctance to fully support a proposal to would funnel USD10 million to a troubled intermodal rail facility — a move that is increasingly is being viewed and criticised as a bailout for some banks, including one partially owned by GOP United States (US) Senator John Hoeven.
The legislation under consideration would allow an economic development group to buy the Minot shipping facility from banks that bought its assets through foreclosure. The non-profit group — not the state — would own the facility.
The plan received near unanimous approval in the Senate, but House Majority Leader Chet Pollert told The Associated Press on Friday that it will “no doubt” undergo significant changes in his chamber.
Representative Jeff Delzer, who chairs the powerful House Appropriations committee, agreed. “It’ll be different, but I don’t know what it will be,” Delzer said.