Bill > SB2383

This bill amends the North Dakota Century Code to provide a tax exemption for property, excluding land, that consists of a pipeline constructed after 1996 and necessary associated equipment for the transportation or storage of carbon dioxide for secure geologic storage or use in enhanced recovery of oil or natural gas. However, the exemption does not apply to pipelines and associated equipment owned by a person who is allowed a credit for carbon oxide sequestration under Section 45Q of the Internal Revenue Code. The bill has an effective date for taxable years beginning after December 31, 2022.