(BISMARCK, ND) – North Dakota legislators are getting their first look at potential property tax legislation.
House Bill 1176, introduced by Bismarck Representative Mike Nathe and co-sponsored by Representatives Jared Hagert, Craig Headland, House Majority Leader Mike Lefor, Todd Porter, Greg Stemen, Steve Swiontek and Don Vigesaa, as well as Senators Brad Bekkedahl, Senate Majority Leader David Hogue, Mark Weber and Arne Rummel, would increase the biennium credit from $500 per year to $1,550 per year.
The anticipated cost is $483 million, with $310 million coming from the general fund and the remaining $173 million from the legacy earnings fund.
The bill heads to a House Finance and Taxation Committee hearing, which has been set for January 14 at 9 a.m.
