This bill proposes the repeal of sections 54-27-21 and 54-27-21.1 of the North Dakota Century Code, which pertain to the minimum reporting value of fixed assets and the documentation required for asset acquisitions. By removing these sections, the bill aims to eliminate existing regulations related to the reporting and documentation of fixed assets.

Additionally, the bill declares itself an emergency measure, indicating that it is intended to take effect immediately upon passage. This urgency suggests that the legislature believes the repeal is necessary for the efficient management of state assets or to reduce bureaucratic burdens.