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ND HB1235

Bill

Official Source

Status

Introduced

1/14/2013

Primary Sponsor

Roscoe Streyle

Click for details

Origin

House of Representatives

63rd Legislative Assembly

AI Summary

  • Prohibits any person from forming a community land trust in North Dakota
  • Defines "community land trust" as a trust that purchases property, sells buildings, and leases the land to another person
  • Restricts the lessee's ability to retain full market appreciation profits when transferring the building
  • Applies to trusts where the lessee is subject to limitations on the amount of market appreciation they may keep upon transferring the building

Legislative Description

A BILL for an Act to provide for a prohibition on community land trusts.

Last Action

Withdrawn from further consideration

1/21/2013

Committee Referrals

Industry, Business, and Labor1/14/2013

Full Bill Text

No bill text available