What is the status of HB1156?

Signed into law as of March 25, 2025. Latest action: Filed with Secretary Of State 03/24 (March 25, 2025).

Who sponsored HB1156?

Austen Schauer (R, 13), with 10 co-sponsors.

Where is the official record for HB1156?

On the North Dakota Legislature website: https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1156.html

North Dakota legislation · 69th Legislative Assembly

North Dakota HB1156: AN ACT to create and enact a new section to chapter 43-02.2 of the North Dakota Century Code, relating to ownership of accounting firms by qualified plans; and to amend and reenact subsection 3 of section 10-31-04 and subsection 3 of section 43-02.2-06 of the North Dakota Century Code, relating to minority ownership of an accounting firm.

Q: What is HB1156?

HB1156 is a bill in the North Dakota Legislature (69th Legislative Assembly): AN ACT to create and enact a new section to chapter 43-02.2 of the North Dakota Century Code, relating to ownership of accounting firms by qualified plans; and to amend and reenact subsection 3 of section 10-31-04 and subsection 3 of section 43-02.2-06 of the North Dakota Century Code, relating to minority ownership of an accounting firm.

Q: What does HB1156 do?

In its own words: An act to create and enact a new section to chapter 43-02.2 of the North Dakota Century Code, relating to ownership of accounting firms by qualified plans; and to amend and reenact subsection 3 of section 10-31-04 and subsection 3 of section 43-02.2-06 of the North Dakota Century Code, relating to minority ownership of an accounting firm.

Status: Signed into law, March 25, 2025

Relating to ownership of accounting firms by qualified plans; and to amend and reenact subsection 3 of section 10-31-04 and subsection 3 of section 43‑02.2‑06 of the North Dakota Century Code, relating to minority ownership of an accounting firm.

What the bill says

An act to create and enact a new section to chapter 43-02.2 of the North Dakota Century Code, relating to ownership of accounting firms by qualified plans; and to amend and reenact subsection 3 of section 10-31-04 and subsection 3 of section 43-02.2-06 of the North Dakota Century Code, relating to minority ownership of an accounting firm.

From the enrolled text, March 14, 2025:

AN ACT to create and enact a new section to chapter 43-02.2 of the North Dakota Century Code, relating to ownership of accounting firms by qualified plans; and to amend and reenact subsection 3 of section 10-31-04 and subsection 3 of section 43-02.2-06 of the North Dakota Century Code, relating to minority ownership of an accounting firm. SECTION 1. AMENDMENT. Subsection 3 of section 10-31-04 of the North Dakota Century Code is amended and reenacted as follows: 3. If expressly authorized under this subsection, a professional organization may have a minority ownership by one or more minority owners. A professional organization created under this chapter for the purpose of providing professional services as set forth in chapterchapters 4302.2 and 43-03 is expressly authorized to have minority owners. SECTION 2. AMENDMENT. Subsection 3 of section 43-02.2-06 of the North Dakota Century Code is amended and reenacted as follows: 3. An Except as provided in section 3 of this Act, an applicant for initial issuance or renewal of a permit to practice under this section must show that notwithstanding any other provision of law, a simple majority of the ownership of the firm, in terms of financial interests and voting rights, belongs to licensees of a state or other recognized jurisdiction and that all certified public accountants or licensed public accountants associated …

What the bill says

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