Renaissance zone bills heads to Governor’s desk
BISMARCK, N.D. (KFYR) - Good news for people who like Renaissance Zones.
The state Senate passed HB 1266, which would allow cities with expired Renaissance Zone authorizations to reapply. The program was created in 1999 with the purpose of revitalizing communities through tax incentives for commercial and residential development.
“This change will allow a city to reinstate their Renaissance Zone. The requirement for reinstatement would be the same as if the community were going through the renewal process,” said Senator Dean Rummel, R-Dickinson.
If the bill becomes law, some cities – including Bismarck – can reapply for Renaissance Zone funding. Last year, the Burleigh County Commission didn’t reauthorize the program, leading to Bismarck’s zone’s expiration. The bill heads to the Governor’s desk.
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