ND HB1050

Amends the definition of "business incentive" in North Dakota Century Code section 54-60.1-01 to require assistance to be valued at $25,000 or more committed within a year to qualify as a business incentive.

Modifies the exclusion for Bank of North Dakota programs to exclude incentives unless they are direct interest rate buydowns or investments made pursuant to the North Dakota alternative and venture capital investments and early-stage capital funds program that require job creation to fulfill a requirement of the incentive.

Maintains existing exclusions from the business incentive definition including assistance generally available to all businesses, public improvements, job training services, housing assistance, pollution control, energy conservation, and various other tax and federal assistance programs.

Passed the House with 90 yeas and 0 nays (4 absent) and passed the Senate with 47 yeas and 0 nays (0 absent).