The proposed amendments to House Bill No. 1168 aim to establish new funds and provisions related to property tax relief and school district funding in North Dakota. Key features of the bill include the creation of a "legacy earnings fund" and a "legacy property tax relief fund," which will receive allocations from legacy fund earnings. The bill also introduces limitations on property tax levies without voter approval, clarifies definitions related to property classifications, and modifies existing tax credit provisions for disabled veterans and homesteads. Additionally, it mandates a comprehensive study on property taxation and appropriates $295 million from the legacy property tax relief fund for state reimbursement under the primary residence credit for the upcoming biennium.

The bill further amends various sections of the North Dakota Century Code to refine the funding structure for school districts and enhance transparency in property tax assessments. It establishes a baseline funding calculation for school districts, adjusts tuition revenue reporting, and outlines specific amounts for state aid calculations for the 2023-24 and 2024-25 school years. The legislation also includes provisions for the certification of primary residences, modifies the valuation process for different property types, and imposes stricter controls on property tax levies. Overall, the bill seeks to improve property tax relief measures, streamline funding mechanisms for educational institutions, and ensure equitable distribution of state aid while enhancing fiscal responsibility and transparency in property tax regulations.

Statutes affected:
INTRODUCED: 15.1-27-02, 15.1-27-04.1, 15.1-27-04.2, 57-15-01.1, 57-15-14, 57-15-14.2, 57-20-07.1
Adopted by the House Finance and Taxation Committee: 15.1-27-04.1, 15.1-27-04.2, 57-15-01.1, 57-15-14, 57-15-14.2, 57-20-07.1
FIRST ENGROSSMENT: 15.1-27-04.1, 15.1-27-04.2, 57-15-01.1, 57-15-14, 57-15-14.2, 57-20-07.1
Prepared by the Legislative Council staff for Representative Wagner: 6-09.4-10.1, 15.1-27-04.1, 15.1-27-04.2, 21-10-06, 54-27-19.3, 57-15-01.1, 57-15-14, 57-15-14.2, 57-20-07.1
SECOND ENGROSSMENT: 6-09.4-10.1, 15.1-27-04.1, 15.1-27-04.2, 21-10-06, 54-27-19.3, 57-15-01.1, 57-15-14, 57-15-14.2, 57-20-07.1
Prepared by the Legislative Council staff for Senator Weber: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.8, 57-02-08.9, 57-02-08.10, 57-02-27, 57-02-27.1, 57-02-53, 57-09-04, 57-11-03, 57-12-06, 57-15-02.2, 57-15-14.2, 57-20-07.1
Prepared by the Legislative Council staff for Representative Headland: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.8, 57-02-08.9, 57-02-08.10, 57-02-27, 57-02-27.1, 57-02-53, 57-09-04, 57-11-03, 57-12-06, 57-15-02.2, 57-15-14.2, 57-20-07.1