North Dakota SB2261: AN ACT to create and enact a new section to chapter 57-38 and a new subdivision to subsection 7 of section 57-38-30.3 of the North Dakota Century Code, relating to a prison industries workforce development income tax credit; to provide for a legislative management study; and to provide an effective date.

What the bill says

An act to create and enact a new section to chapter 57-38 and a new subdivision to subsection 7 of section 57-38-30.3 of the North Dakota Century Code, relating to a prison industries workforce development income tax credit; to provide for a legislative management study; and to provide an effective date.

From the enrolled text, March 18, 2025:

AN ACT to create and enact a new section to chapter 57-38 and a new subdivision to subsection 7 of section 57-38-30.3 of the North Dakota Century Code, relating to a prison industries workforce development income tax credit; to provide for a legislative management study; and to provide an effective date. SECTION 1. A new section to chapter 57-38 of the North Dakota Century Code is created and enacted as follows: Prison industries workforce development credit. 1. A taxpayer that is a primary sector business, as defined in section 1 - 01 - 49, is allowed a nonrefundable credit against the tax imposed under section 57 - 38 - 30 or 57 - 38 - 30.3 for the cost of purchased components of final manufactured products or labor from prison industries. The amount of the credit under this section is ten percent of the cost of components and labor from prison industries purchased by the taxpayer in the calendar year. The credit must be claimed for the taxable year in which the components or labor are purchased. 2. The credit under this section may not exceed the taxpayer's liability as determined under this chapter for any taxable year. If the amount of the credit determined under this section exceeds the liability for tax under this chapter, the excess may be …

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