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ND HCR3029
Concurrent Resolution
Status
2/22/2017
Primary Sponsor
Ron Guggisberg
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AI Summary
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Request Legislative Management to study North Dakota's tax collection volatility, with The Pew Charitable Trusts having ranked the state as having the fourth highest tax collections volatility among all states.
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Examine feasibility of creating mechanisms to mitigate tax collection volatility, including possible expansion of Bank of North Dakota programs to agriculture, energy, and manufacturing sectors.
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Agriculture comprises up to 25 percent of North Dakota's economic base with nearly 24 percent of workers in farming or farm-related jobs; oil production ranks as high as second largest in the state with natural gas as sixth largest industry.
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Consider contingency planning for consolidation and use of existing state funds established during the recent oil and gas boom cycle to mitigate potential effects of substantial tax collection declines.
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Require Legislative Management to report findings, recommendations, and any necessary implementing legislation to the Sixty-sixth Legislative Assembly.
Legislative Description
A concurrent resolution requesting the Legislative Management to consider studying the degree of tax collections volatility to which this state may be vulnerable and the feasibility of creating mechanisms, including the possibility of expanding the programs offered by the Bank of North Dakota to the agriculture, energy, and manufacturing sectors, to mitigate potential volatility of tax collections and state budget impact.
Last Action
Second reading, failed to adopt yeas 23 nays 69
3/15/2017