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ND SB2050

Bill

Official Source

Status

Prefiled

N/A

Primary Sponsor

Legislative Management

Click for details

Origin

Senate

66th Legislative Assembly

AI Summary

SB2050 Summary

  • Creates three infrastructure funds from oil and gas tax revenues: an airport and railroad infrastructure fund ($46 million minimum per biennium with excess up to $4 million for short-line railroads), a municipal infrastructure fund for non-oil-producing counties ($115 million per biennium), and a county and township infrastructure fund for non-oil-producing counties ($115 million per biennium).

  • Modifies "hub city" definition to require counties with oil and gas tax revenue collections in any three consecutive months during a 24-month period, rather than requiring private covered employment in mining industry.

  • Revises oil and gas tax allocation formulas between state general fund, tax relief fund, budget stabilization fund, and strategic investment funds, with new deposit sequencing that prioritizes $200 million to general fund before other allocations.

  • Establishes reporting requirements for cities, counties, and school districts receiving allocations to document infrastructure project completion and fund usage by specified deadlines.

  • Becomes effective for taxable events occurring after June 30, 2019.

Legislative Description

"http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> North Dakota Bill Actions: SB 2050 function goToUrl() var url; var location; location = window.location.protocol + "//" + window.location.host + window.location.pathname; url = location.substring(0, location.length - 9 ) + gotourl.num.value + ".html"; window.location.href = url; ; var _gaq = _gaq || [];_gaq.push(["_setAccount", "UA-36562634-1"]);_gaq.push(["_trackPageview"]);(function() var ga = document.createElement("script");ga.type = "text/javascript";ga.async = true;ga.src = ("https:" == document.location.protocol ? "https://ssl" : "http://www") + ".google-analytics.com/ga.js";var s = document.getElementsByTagName("script")[0];s.parentNode.insertBefore(ga, s);)(); //--> alt="nd.gov - The Official Portal for North Dakota State Government" /> alt="North Dakota: Legendary. Follow the trail of legends" /> Jump to Content Home and Contact Links Home Search Contact Us Search: function MeasureAction() var mybillnumber = document.jumpform.jump_number.value; var path = '/assembly/66-2019/bill-index/bi'; if(mybillnumber) document.jumpform.action = path+mybillnumber+'.html'; return true; else return false; This search feature requires JavaScript to function properly Send me to Bill No. (9999): North Dakota Legislative Branch NavigationLegislative Assembly Legislative Council Legislative Management News Calendar Video SB 2050 Versions SB 2050 Video Major Topics Index 2019 Legislative Information Bill Actions for SB 2050 Send me to Bill No. (9999): HJ=House Journal; SJ=Senate Journal

Full Bill Text

No bill text available