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ND SB2035
Bill
Status
4/22/2015
Primary Sponsor
Legislative Management
Click for details
AI Summary
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Creates a sales and use tax exemption for tangible personal property used to construct fertilizer or chemical processing facilities in North Dakota, with exemption requiring air quality permit from Department of Health by June 30, 2019.
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Amends municipal tax exemption authority to require certification from Department of Commerce Division of Economic Development and Finance that a project is a primary sector business before granting property tax exemptions or payments in lieu of taxes.
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Requires Department of Commerce to conduct a public hearing if total project costs exceed one billion dollars, with notice provided to affected taxing districts and competing businesses.
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Directs Legislative Management to study the impact of large economic development projects on political subdivisions during the 2015-16 interim and report findings to the 65th Legislative Assembly.
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Authorizes Industrial Commission to spend up to $100,000 from the oil and gas research fund for an independent natural gas production study.
Legislative Description
Requirements of a city or county granting a property tax exemption and a use tax exemption for tangible personal property used to construct a fertilizer or chemical processing facility; to provide for studies by the legislative management and industrial commission; and to provide for a retroactive effective date.
Last Action
Signed by Governor 04/22
4/22/2015