House passes property tax relief and reform package, creates legacy earnings fund and raises PRC to $1,600

The North Dakota House of Representatives adopted the conference committee report and passed House Bill 11-76 on a final vote of 86 yeas and 4 nays, approving a broad property tax relief and reform package for the legislative assembly.

Representative Hedlund, the bill carrier, told members House Bill 11-76 is the property tax relief and reform measure for the session and outlined major conference committee changes. “The bill provides for a $1,600 PRC,” Hedlund said, referring to the primary residence credit. Hedlund also said the conference increased the PMOV from 7% to 8%, directed allocations of legacy earnings after bond payments (30% to the highway distribution fund, with the remainder to a newly created Legacy Property Tax Relief Fund), and removed an expansion of the homestead tax credit that had appeared in an earlier Senate version.

The bill raises the primary residence…