21.8017.01000
Sixty-seventh
Legislative Assembly HOUSE BILL NO. 1050
of North Dakota
Introduced by
Industry, Business and Labor Committee
(At the request of the Bank of North Dakota)
1 A BILL for an Act to amend and reenact subsection 2 of section 54-60.1-01 of the North Dakota
2 Century Code, relating to definitions relating to business incentives, agreements, and reports.
3 BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
4 SECTION 1. AMENDMENT. Subsection 2 of section 54-60.1-01 of the North Dakota
5 Century Code is amended and reenacted as follows:
6 2. "Business incentive" means a state or political subdivision direct cash transfer, loan, or
7 equity investment; contribution of property or infrastructure; reduction or deferral of
8 any tax or any fee; guarantee of any payment under any loan, lease, or other
9 obligation; or preferential use of government facilities given to a business. To be
10 considered a business incentive, the total assistance in all forms must be valued at
11 twenty-five thousand dollars or more committed within a year. Unless specifically
12 provided otherwise, the term does not include:
13 a. Assistance that is generally available to all businesses or to a general class of
14 similar businesses, such as a line of business, size, or similar criteria.
15 b. Incentives resulting from Bank of North Dakota programs unless the incentive is
16 a direct interest rate buydown or is an investment made pursuant to the North
17 Dakota alternative and venture capital investments and early-stage capital funds
18 program.
19 c. Public improvements to buildings or lands owned by the state or political
20 subdivision which serve a public purpose and do not principally benefit a single
21 business or defined group of businesses at the time the improvements are made.
22 d.c. Assistance provided for the sole purpose of renovating old or decaying building
23 stock or bringing such building stock up to code and assistance provided for
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Sixty-seventh
Legislative Assembly
1 designated historic preservation districts, provided that the assistance does not
2 exceed seventy-five percent of the total cost.
3 e.d. Assistance to provide job-readiness and training services if the sole purpose of
4 the assistance is to provide those services.
5 f.e. Assistance for housing.
6 g.f. Assistance for pollution control or abatement.
7 h.g. Assistance for energy conservation.
8 i.h. Tax reductions resulting from conformity with federal tax law.
9 j.i. Benefits derived from regulation.
10 k.j. Indirect benefits derived from assistance to educational institutions.
11 l.k. Assistance for a collaboration between a North Dakota institution of higher
12 education and a business.
13 m.l. Redevelopment if the recipient's investment in the purchase of the site and in site
14 preparation is seventy percent or more of the assessor's current year's estimated
15 market value.
16 n.m. General changes in tax increment financing law and other general tax law
17 changes of a principally technical nature.
18 o.n. Federal assistance provided through the state or a political subdivision until the
19 assistance has been repaid to, and reinvested by, the state or political
20 subdivision.
21 p.o. Federal or state assistance for the lignite research, development, and marketing
22 program under chapter 54-17.5.
23 q.p. Federal or state assistance for the oil and gas research, development, and
24 marketing program under chapter 54-17.6.
25 r.q. Federal or state assistance for the renewable energy program under chapter
26 54-63.
Page No. 2 21.8017.01000
Statutes affected: INTRODUCED: 54-60.1-01
FIRST ENGROSSMENT: 54-60.1-01
Enrollment: 54-60.1-01
PREFILED: 54-60.1-01