This bill amends and reenacts several sections of the North Dakota Century Code concerning economic development tax incentives, specifically focusing on carbon dioxide capture and injection tax exemptions. It mandates that the legislative management interim committee conduct a complete analysis of designated economic development tax incentives every six years. The bill also repeals existing provisions related to carbon dioxide pipeline exemptions and sales tax exemptions for carbon dioxide capture and injection, thereby streamlining the tax framework for these activities.

Additionally, the bill clarifies that coal conversion facilities and associated carbon dioxide capture systems are classified as personal property exempt from ad valorem taxes, with the exception of land taxes. It explicitly states that the exemption does not extend to tangible personal property that is part of a carbon dioxide pipeline. The effective dates for the various sections of the bill are staggered, with some provisions taking effect after June 30, 2025, and others after December 31, 2024.

Statutes affected:
INTRODUCED: 54-35-26, 57-40.2-03.3, 57-60-06, 57-39.2-04.14