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 creation of new sections that outline the distribution of funds from the legacy earnings fund for various state projects, including tax relief initiatives and highway funding. The bill also introduces limitations on property tax levies without voter approval, clarifying definitions related to taxing districts and school districts, and establishing a cap on property tax increases. Additionally, it amends existing laws regarding state aid funding formulas for school districts, ensuring a more equitable distribution of resources.

Further amendments focus on enhancing property tax relief mechanisms, including increasing the maximum property tax credit for primary residences and revising income limits for homestead exemptions. The bill specifies eligibility criteria for property tax credits, particularly for disabled veterans, and introduces new provisions for the certification of primary residences. It 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 while providing substantial tax relief for property owners 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