North Dakota § 54-17.2-23 State building authority lease payments - Limitation

North Dakota Statutes

§ 54-17.2-23 — State building authority lease payments - Limitation

North Dakota § 54-17.2-23

Title 54State Government

Ch. 54-17.2North Dakota Building Authority

This text of North Dakota § 54-17.2-23 (State building authority lease payments - Limitation) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 54-17.2-23 (2026).

Text

The general fund amount of lease payments for a biennium associated with capital
construction projects financed by the industrial commission acting as the state building authority
may not exceed the amount equal to a portion of sales, use, and motor vehicle excise tax
collections equal to ten percent of an amount, determined by multiplying the quotient of one
percent divided by the general sales tax rate that was in effect when the taxes were collected,
times the net sales, use, and motor vehicle excise tax collections under chapters 57-39.2,
57-40.2, and 57-40.3. The computation for the authorized general fund lease payments for a
biennium must be based on the projected sales, use, and motor vehicle excise tax collections
presented to the legislative assembly at the close of the most rece

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The general fund amount of lease payments for a biennium associated with capital
construction projects financed by the industrial commission acting as the state building authority
may not exceed the amount equal to a portion of sales, use, and motor vehicle excise tax
collections equal to ten percent of an amount, determined by multiplying the quotient of one
percent divided by the general sales tax rate that was in effect when the taxes were collected,
times the net sales, use, and motor vehicle excise tax collections under chapters 57-39.2,
57-40.2, and 57-40.3. The computation for the authorized general fund lease payments for a
biennium must be based on the projected sales, use, and motor vehicle excise tax collections
presented to the legislative assembly at the close of the most recently adjourned regular
legislative session. Lease payment amounts for any particular project must be calculated as of
the date the related bonds are issued.