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ND HB1345

Bill

Official Source

Status

Introduced

1/17/2011

Primary Sponsor

Shirley Meyer

Click for details

Origin

House of Representatives

62nd Legislative Assembly

AI Summary

  • Amends North Dakota Century Code section 57-02-08.1 regarding homestead credit eligibility based on asset valuation
  • Establishes ineligibility threshold of $75,000 in combined assets for a person and dependents, excluding the unencumbered value of their claimed homestead
  • Limits the unencumbered homestead valuation to $125,000 for purposes of the asset test
  • Includes assets divested within the last three years in calculating total asset value
  • Effective for taxable years beginning after December 31, 2010

Legislative Description

The valuation of a homestead eligible for the homestead credit; and to provide an effective date.

Last Action

Second reading, failed to pass, yeas 21 nays 73

2/15/2011

Committee Referrals

Finance and Taxation1/17/2011

Full Bill Text

No bill text available