North Dakota Code 4.1-21-09 – Revenue received from lands acquired or leased – Regulations governing – Payments in lieu of taxes
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All revenues derived from lands acquired or leased under this chapter must be segregated by the state treasurer for the use of the state forester in the acquisition, management, development, and use of such lands. However, from those revenues derived from agricultural leases there must be paid over to the governing body of the county in which those lands are located, an amount sufficient to cover the loss of tax revenues, if any, resulting from such acquisition or lease.
Terms Used In North Dakota Code 4.1-21-09
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49