This bill amends the North Dakota Century Code to redefine "primary sector business" to include tourism operations that create new wealth by attracting out-of-state visitors. Specifically, it clarifies that a primary sector business can be an individual or corporation that adds value to products, processes, or services, resulting in new wealth generation. The definition of "new wealth" is expanded to encompass revenues from both businesses and tourism operations selling to customers or visitors from outside the state, as well as to in-state customers for previously unavailable products or services.

Additionally, the bill modifies the definition of "primary sector business" in another section to explicitly include tourism while excluding production agriculture. It also revises the definition of "local development organization" to ensure that no single shareholder or member can hold more than 25% voting control if they have a direct financial interest in any project associated with the organization. The bill aims to enhance economic development by promoting tourism and ensuring that local development organizations prioritize community benefits over profits.

Statutes affected:
INTRODUCED: 1-01-49, 10-30.5-01, 40-57.1-02
Enrollment: 1-01-49, 10-30.5-01, 40-57.1-02