ND SB2050

Excludes agricultural property assessed within the last 10 years from "blighted area" classification unless the land was located within city interior boundaries for at least 10 years.

Tax increment districts established before July 1, 2011 may use a base year for up to 25 taxable years, then establish a new base year for up to 15 additional years before closure, except original base year continues for debts incurred before July 1, 2011 until paid.

Tax increment districts established after July 1, 2011 may use a base year for up to 25 taxable years, then establish a new base year for up to 5 additional years before mandatory closure.

Municipalities must conduct public hearings before approving tax increment financing plans and provide invitations to county, school district, and park district governing bodies within the development area.

Municipalities must file annual reports by July 31st to the department of commerce listing outstanding indebtedness, funds on hand balance, and the tax increment financing district name for all active districts.