North Dakota 2026 1st Special Session

North Dakota Senate Bill SB2201

Caption

AN ACT to amend and reenact section 57-02-08.9 of the North Dakota Century Code, relating to the primary residence credit; to provide for application; to provide a retroactive effective date; to provide an expiration date; and to declare an emergency.

Summary

Senate Bill No. 2201 amends section 57-02-08.9 of the North Dakota Century Code to establish a property tax credit for individuals on their primary residence. The bill allows taxpayers to claim a credit of up to five hundred dollars against property taxes owed on their primary residence, provided they meet certain eligibility criteria. The credit is designed to reduce the property tax burden for homeowners and is applicable for the first two taxable years beginning after December 31, 2023. The bill also includes provisions for retroactive application and outlines the process for claiming the credit, including necessary documentation and deadlines.

Impact

If enacted, this bill will have a significant impact on property tax laws in North Dakota by providing financial relief to homeowners through the establishment of a new tax credit. It modifies existing statutes to clarify the definition of a primary residence and the eligibility requirements for claiming the credit. The retroactive nature of the bill allows taxpayers to receive refunds for taxes paid in the previous year, thus affecting the state's revenue collection and budget planning for the upcoming years.

Sentiment

The sentiment surrounding SB2201 appears to be overwhelmingly positive, as evidenced by the unanimous votes in both the Senate and House. Legislators have expressed support for the bill, highlighting its potential to ease the financial burden on homeowners. The declaration of an emergency measure indicates a sense of urgency among lawmakers to implement this relief swiftly.

Contention

While there has been broad support for the bill, some points of contention may arise regarding the eligibility criteria, particularly concerning the definition of a primary residence and the limitations placed on trusts. There may be concerns from stakeholders about the implications for property tax assessments and the potential for inequities in how the credit is applied across different types of property ownership.

Companion Bills

No companion bills found.

Previously Filed As

ND SB2201

The primary residence credit; to provide for application; to provide a retroactive effective date; to provide an expiration date; and to declare an emergency.

ND SB2298

The homestead credit certification and disabled veterans' credit; to provide for retroactive application; to provide an effective date; and to provide an expiration date.

ND HB1390

The homestead credit and disabled veterans' credit; to provide an effective date; and to declare an emergency.

ND HB1626

AN ACT to amend and reenact subdivision d of subsection 1 of section 57-02-08.9, section 57-20-09, and subsection 1 of section 57-55-03 of the North Dakota Century Code, relating to application of the primary residence credit and discount for early payment of tax; and to provide an effective date.

ND HB1586

The primary residence credit, setoff of income tax refunds for payment of delinquent real property and special assessment taxes, and eliminating foreclosure of tax liens for primary residential property; to provide an effective date; to provide an expiration date; and to declare an emergency.

ND HB1575

Legacy fund definitions, the legacy earnings fund, and the primary residence credit; to provide an appropriation; to provide for a transfer; to provide an effective date; and to provide an expiration date.

ND HB1176

Legacy fund definitions and the legacy earnings fund; to provide for a legislative management study; to provide for a legislative management report; to provide an appropriation; to provide an exemption; to provide an effective date; to provide an expiration date; and to declare an emergency.

ND SB2301

The homestead tax credit; and to provide an effective date.

ND HB1335

The homestead tax credit; and to provide an effective date.

ND HB1168

Legacy fund definitions and the legacy earnings fund; to provide a statement of legislative intent; to provide for a legislative management study, to provide an appropriation; to provide an effective date; to provide an expiration date; and to declare an emergency.