ND HB1200

Amends school district state aid calculation to change the maximum annual increase from 12 percent to 2 percent after 2021, or a higher percentage approved by majority voter referendum

Creates new property tax levy limitation for all taxing districts capping annual increases at 2 percent of the preceding year's dollar amount without voter approval

Allows adjustments to the 2 percent cap for new taxable property, eliminated property tax exemptions, property no longer taxable, and expired temporary mill levies

Exempts from the levy limitation: new levy authority, bonded indebtedness taxes, state medical center one-mill levy, Garrison Diversion Conservancy District levy, special assessment taxes, and certain statutory taxes

Permits levies exceeding the 2 percent cap upon voter approval by ballot measure for a single taxable year, and prohibits cities and counties from superseding the limitation through home rule authority