The proposed amendments to House Bill No. 1168 aim to establish a legacy earnings fund and a legacy property tax relief fund within the North Dakota Century Code. Key provisions include the introduction of primary residence certification, limitations on property tax levies without voter approval, and adjustments to state aid funding formulas for school districts. The bill also repeals certain sections related to legacy fund definitions and state aid payment adjustments. Notably, it creates new sections that detail the allocation of funds from the legacy earnings fund, including a distribution formula for the Department of Transportation and other public services.

Additionally, the bill modifies existing laws regarding property tax levies, establishing a cap on increases and requiring voter approval for any levies exceeding this limit. It introduces new definitions for property classifications and enhances property tax relief mechanisms, particularly for disabled veterans and homeowners. The bill also 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. Overall, the bill seeks to improve financial support for education and provide clearer guidelines for property tax management in North Dakota.

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