This bill proposes significant amendments to the North Dakota Century Code, focusing on the establishment of a legacy earnings fund and a legacy property tax relief fund. It introduces a primary residence certification process and imposes restrictions on property tax levies without voter approval. Key changes include the repeal of the legacy earnings fund definition and the creation of a new legacy earnings fund that will receive distributions based on a percentage of its five-year average value. The bill also outlines the allocation of these funds for various purposes, such as debt service payments and property tax relief, while amending existing sections related to property tax definitions and the renters refund program.

Additionally, the bill enhances property tax credit provisions for disabled veterans and adjusts the primary residence credit, specifying eligibility criteria and application processes. It removes limitations on the board of equalization's ability to increase property valuations without prior notice and establishes a framework for property tax levies that requires voter approval for increases beyond set limits. The legislation also introduces gap funding for school districts facing unexpected increases in taxable valuation and appropriates $408,900,000 from the legacy property tax relief fund for the primary residence credit for the 2025-27 biennium. Overall, the bill aims to streamline property tax processes, enhance financial support for tax relief initiatives, and ensure transparency in property taxation.

Statutes affected:
INTRODUCED: 21-10-06, 57-02-01, 57-02-08.1, 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, 57-20-07.1
Adopted by the House Finance and Taxation Committee: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.9, 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, 57-20-07.1, 57-38-30.3
25.1003.01011 : 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.9, 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, 57-20-07.1
FIRST ENGROSSMENT: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.9, 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, 57-20-07.1, 57-38-30.3
Prepared by the Legislative Council staff for House Appropriations Committee: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.9, 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, 57-20-07.1
SECOND ENGROSSMENT: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.9, 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, 57-20-07.1
Prepared by the Legislative Council staff for Senate Appropriations Committee: 6-09.4-10.1, 21-10-06, 40-40-06, 54-27-19.3, 57-02-01, 57-02-08.1, 57-02-08.9, 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, 57-20-07.1
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
Enrollment: 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