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ND SB2037
Bill
Status
1/8/2013
Primary Sponsor
Legislative Management
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AI Summary
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Increases allocation to the property tax relief sustainability fund from $341 million to $413.74 million from oil and gas tax revenues each biennium, with remaining revenues directed to the state general fund and strategic investment fund.
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Appropriates $403.407 million from the general fund to the superintendent of public instruction for mill levy reduction grants to school districts for the biennium beginning July 1, 2013, and ending June 30, 2015.
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Transfers $341.79 million from the property tax relief sustainability fund to the general fund on July 1, 2013.
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Maintains existing mill levy reduction grant calculations and restrictions, including caps on grant amounts and requirements that school districts maintain general fund mill rates not exceeding 110 mills plus two-thirds of a calculated mill amount.
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Effective date is July 1, 2013.
Legislative Description
Deposits of the state's share of oil and gas taxes and property tax relief through allocation of state funding to school districts for mill levy reduction grants; to provide an appropriation; to provide for a transfer; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 15 nays 31
2/22/2013