ND SB2391

Extends income and property tax exemption periods for renaissance zone projects from 5 years to up to 8 years for individual taxpayers and businesses rehabilitating residential, commercial, or public utility infrastructure property.

Increases rehabilitation cost thresholds: 75% of current true and full value for exemptions exceeding 5 years; 50% for exemptions of 5 years or less; 20% for owner-occupied single-family homes.

Allows renaissance zones to have up to two exceptions (instead of one) to continuous boundary requirements if noncontiguous blocks do not exceed three square blocks each.

Permits zones to expand during their duration and extends renaissance zone designation periods from 15 years to increments of up to 10 years (previously 5 years).

Sets aggregate credit limit of $10.5 million for investments in renaissance fund organizations that finance projects within renaissance zones.