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ND SB2383
Bill
Status
Introduced
1/23/2023
Primary Sponsor
Jeffery Magrum
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AI Summary
- Amends North Dakota Century Code section 57-06-17.1 to add a limitation on the carbon dioxide pipeline tax exemption
- Exempts property (excluding land) used for CO2 pipelines and associated equipment from taxation during construction and for the first 10 full taxable years after initial operation if the pipeline was constructed after 1996
- Exemption applies to pipelines used for secure geologic storage or enhanced recovery of oil or natural gas
- Denies the exemption to pipeline owners who claim a federal tax credit for carbon oxide sequestration under Internal Revenue Code section 45Q
- Effective for taxable years beginning after December 31, 2022
Legislative Description
The carbon dioxide pipeline tax exemption; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 0 nays 47
2/9/2023
Committee Referrals
Finance and Taxation1/23/2023
Full Bill Text
No bill text available