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. The bill introduces new provisions for primary residence certification, limits property tax levies without voter approval, and modifies existing laws related to state aid funding formulas and school district levy authority. Key changes include the deletion of specific provisions regarding tuition revenue calculations and the introduction of new definitions for property classifications, such as "primary residential property" and "nonprimary residential property." The bill also emphasizes the importance of legislative intent and includes provisions for a legislative management study, appropriations, and effective dates.

Additionally, the bill outlines new limitations on property tax levies by taxing districts, specifying that increases cannot exceed three percent without voter approval, while also establishing a legacy sinking and interest fund for infrastructure projects. It appropriates $295 million from the legacy property tax relief fund for state reimbursement under the primary residence credit for the upcoming biennium and mandates that the tax commissioner notify county auditors of the applicable percentage for taxable years 2025 and 2026. Overall, the bill seeks to enhance property tax relief mechanisms, streamline funding allocations, and ensure transparency in property assessments and tax levies.

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