Income tax credit measure appears to be headed to approval
It appears support may be growing for Governor Burgum’s idea of using money from the state’s general fund ending balance to grant $500 income tax credits to North Dakota taxpayers.
The House and Senate majority leaders say they still would rather wait until the next regular Legislative session, to discuss permanent tax relief.
House Majority Leader Chet Pollert (R-Carrington) says once the bill was introduced — by Rep. Pat Heinert (R-Bismarck) — it took off.
"It's kind of like a locomotive, rolling down the track," Pollert said.
Pollert said he supports permanent income tax relief. But Senate Majority Leader Rich Wardner (R-Dickinson) said he hears the most complaints about property taxes. He said while the state doesn’t levy property taxes, he has an idea that would lower the tax.
"Where I think it should be, is dropping the number of mills that the school districts would have to get from their local patrons, from 70 mills to 20," Wardner said. "That is real property tax relief."
Wardner said money from the state would replace those 50 mills. He said it would come from the earnings on the state's Legacy Fund.
Besides the income tax credit, lawmakers will consider cutting taxes on Social Security.