§ 57-39.2-26.4 — Large facility development fund - State treasurer - Continuing appropriation - Report (Effective through June 30, 2027)

North Dakota § 57-39.2-26.4

• Jurisdiction: North Dakota
• Title 57: Taxation
• Ch. 57-39.2: Sales Tax

Text

appropriation - Report. (Effective through June 30, 2027)
1. There is created in the state treasury the large facility development fund. The fund
consists of all moneys transferred to the fund under subsection 2. All moneys in the
fund are appropriated to the state treasurer on a continuing basis for the purpose of
providing distributions to an eligible county or city.
2. Notwithstanding any other provision of law, after the allocations under sections
57-39.2-26.1, 57-39.2-26.2, and 57-39.2-26.3, a portion of sales, gross receipts, and
use tax collections equal to the amount under subsection 3 must be deposited by the
state treasurer in the large facility development fund as needed. The tax commissioner
shall calculate the amount needed for distribution under subsection 3 and shall certify
to the state treasurer the portion of sales, gross receipts, and use tax net revenues
that must be deposited in the fund to provide for the distribution.
3. Within thirty days after construction begins on the large facility, the state treasurer shall
distribute to a county or city an amount equal to one percent of up to two billion dollars
of estimated cost of tangible property eligible for a tax exemption under section
57-39.2-04.15 used in the construction of the large facility if:
a. The county or city is levying a local sales tax for infrastructure, public safety, or
economic development; and
b. The county in which the large facility is located has a hub city and received at
least thirty million dollars of oil and gas gross production tax revenue allocations
under section 57-51-15 from September 1, 2021, through August 31, 2022.
4. To qualify for the distribution under subsection 3, the large facility must:
a. Be a new fertilizer or chemical processing plant that is eligible for a tax exemption
under section 57-39.2-04.15;
b. Begin construction after July 1, 2023; and
c. Have an estimated total cost of at least one billion dollars.
5. A county or city may receive only one distribution under subsection 3.
6. If the large facility is within city limits, only a city is eligible to receive a distribution
under subsection 3.
7. The owner of the large facility shall provide information and documentation to the tax
commissioner to determine the estimated cost of the tangible property and the
estimated total cost of the large facility for calculations under this section.
8. If a county or city receives a distribution from the fund, the county or city shall provide
at least one report to the legislative management on the use of the funding. The report
must include the amount of funding received and spent by the county or city, including
an itemized list of the amounts spent and a description of how the funding was used
by the county or city.