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ND SB2057
Bill
AI Summary
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Appropriates $130,394,802 total funds ($41,759,865 general fund) to the Department of Commerce for the 2011-13 biennium for salaries, operations, grants, and economic development initiatives.
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Creates small business technology investment program providing up to $50,000 in matching investments to North Dakota startup technology businesses requiring 2:1 private angel fund match.
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Establishes biofuel blender pump incentive program offering cost-share grants up to $34,000 per retail location for installation of ethanol and biodiesel blender pumps and associated equipment.
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Creates centers of research excellence program for research universities and nonprofit university-related foundations partnering with private sector, requiring 2:1 matching funds with at least $1 in cash and 50 cents from private sector per state dollar.
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Authorizes 20% nonrefundable income tax credit for primary sector businesses purchasing manufacturing automation and robotic equipment, capped at $2 million annually and available for three taxable years beginning after December 31, 2012.
Legislative Description
The centers of excellence program; to provide for a legislative management study; to provide a vaccinology initiative grant; to provide a continuing appropriation; to provide exemptions; to provide for transfers; to provide legislative intent; to provide an effective date; to provide an expiration date; and to declare an emergency.
Last Action
Filed with Secretary Of State 05/05
5/20/2011