SB 2031 Summary

• Amends sections 57-39.2-04.2 and 57-40.2-04.2 of the North Dakota Century Code to modify sales and use tax exemptions for power plant construction materials and equipment.

• Removes the January 1, 2015 completion deadline for wind-powered electrical generating facilities to qualify for the sales and use tax exemption, allowing facilities completed after that date to remain eligible.

• Maintains existing exemptions for construction materials used in new power plants, expansions of existing power plants, and environmental upgrades to power plants and oil refinery or gas processing plants.

• Requires operators to obtain a commissioner's certificate prior to purchase to receive the exemption at point of sale, or they must pay applicable taxes and apply for a refund afterward.

• Effective for taxable events occurring after June 30, 2011.