Bill > SB2201

This bill amends North Dakota's primary residence tax credit law to provide more detailed definitions and clarify eligibility requirements. Specifically, the bill expands the definition of "owned" and "primary residence" to include situations involving trusts, allowing property owners who hold a beneficial interest in a qualifying trust to claim the $500 tax credit. The bill defines a "qualifying trust" as one where the trustor or beneficiary has the right to use and occupy the property as their primary residence rent-free, and establishes conditions for how and when this applies. The credit can only be claimed for one primary residence, cannot exceed the property tax due, and must be applied after other exemptions. Individuals who are temporarily absent due to medical confinement can still qualify for the credit, provided the residence is not rented to another person. To claim the credit, applicants must file an application with the tax commissioner by April 1st each year. The bill is retroactively effective for the first two taxable years after December 31, 2023, and includes a provision allowing taxpayers who qualify for the credit in 2024 to file an abatement claim by May 1, 2025, to receive a refund equal to the credit amount.

Budget and Finance

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo2201.html