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ND SB2048
Bill
AI Summary
- Creates a new reporting requirement for cities when property is located in both a tax increment financing district and a renaissance zone
- Cities must provide annual reports to the Department of Commerce identifying affected property, expected duration in both districts, and any property and income tax benefits with their expected duration
- Department of Commerce must compile city reports into an annual report delivered to the legislative management interim committee on taxation issues or other interim committees upon request
- Applies to section 40-63-03 of the North Dakota Century Code
- Passed Senate 46-0 (1 absent) and House 93-0 (1 absent)
Legislative Description
Informational reporting by cities and the department of commerce on the status of property included in both a tax increment financing district and a renaissance zone.
Last Action
Filed with Secretary Of State 04/25
4/26/2011
Committee Referrals
Finance and Taxation1/4/2011
Full Bill Text
No bill text available