HB 1223 Summary

• Provides a $400 refundable individual income tax credit to residents age 18 or older who maintained a primary residence in North Dakota for the entire taxable year.

• Excess credit amounts above tax liability are refundable to the individual, and individuals claimed as dependents on another's tax return are ineligible.

• Requires the tax commissioner to disseminate information about the credit to the public and conduct random audits of claims.

• Imposes a $400 penalty plus repayment requirement for individuals who fraudulently claim the credit.

• Appropriates $1,000,000 from the general fund to the tax commissioner for disseminating information and administering the credit for the biennium beginning July 1, 2013, through June 30, 2015.

• Effective for the first taxable year beginning after December 31, 2012, and thereafter expires.