ND HB1102

Amends North Dakota Century Code section 40-63-04 subsection 3 to clarify procedures for renaissance zone individual income tax credits.

Allows individual taxpayers with approved zone projects exceeding $75,000 in cities with populations of 2,500 or fewer to elect an income tax exemption of up to $2,000 in personal individual income tax liability.

Requires the election to be made on the taxpayer's return as originally and timely filed, and makes the election irrevocable and binding for the duration of all exemptions.

Provides that taxpayers who do not make the election on their original return are only eligible for the exemption provided in subsection 2.

Effective for zone projects approved after December 31, 2010.