ND HB1488

Amends sections 40-23-21, 40-24-18, and 40-27-05 of the North Dakota Century Code regarding special assessment fund management and balances.

Requires governing bodies to conduct annual reviews of special assessment revenues and stop levying assessments once collections are sufficient to repay outstanding warrants, bonds, or interfund loans issued for the improvement.

Changes language from "may" to "shall" requiring governing bodies to direct remaining special fund balances to the municipality's general fund after all outstanding obligations are paid in full.

Applies the mandatory annual review and fund transfer requirements consistently across three separate sections covering different types of special improvement financing mechanisms.