The bill amends and reenacts section 57-02-08.9 of the North Dakota Century Code, which pertains to the primary residence credit for property taxes. It establishes that a taxpayer is entitled to a credit of five hundred dollars against the property tax due on their primary residence, with the credit not exceeding the amount of property tax owed. The bill clarifies the definition of "primary residence" and introduces new terms such as "qualifying trust" and "trustor," while also specifying that only one credit can be applied per primary residence. Additionally, it allows individuals who are temporarily absent from their primary residence due to confinement in a care facility to still qualify for the credit, provided their residence is not rented out.

The bill includes a retroactive effective date, applying to the first two taxable years beginning after December 31, 2023, and it will expire after that period. Taxpayers who qualify for the credit but do not meet the application requirements can file an abatement claim by May 1, 2025, to receive a refund for taxes paid. The bill is declared an emergency measure, indicating its immediate importance for implementation.

Statutes affected:
INTRODUCED: 57-02-08.9
Prepared by the Legislative Council staff for Senator Patten: 57-02-08.9
FIRST ENGROSSMENT: 57-02-08.9
Prepared by the Legislative Council staff for Senator Weber: 57-02-08.9
SECOND ENGROSSMENT: 57-02-08.9
Prepared by the Legislative Council staff for House Finance and Taxation Committee: 57-02-08.9
Enrollment: 57-02-08.9