Lawmakers want to invest Legacy Fund in North Dakota firms, infrastructure loans
House Bill 1425 would set a target for the State Investment Board to designate 10% of tax collections flowing into the voter-approved Legacy Fund for creating loans tailored to North Dakota cities, counties and businesses. Another 10% would be earmarked to invest in stock and other equity in North Dakota-based companies. Written By: Jeremy Turley | ×
Rep. Mike Nathe, R-Bismarck, speaks about a proposal for investing North Dakota s Legacy Fund at a press conference in the state Capitol on Tuesday, Jan. 19. Jeremy Turley / Forum News Service
BISMARCK A bipartisan group of North Dakota lawmakers has set its gaze on investing a chunk of the state s future oil tax revenue in local businesses and infrastructure projects.
Bipartisan bill proposes taxpayers pay for lawmakers meals sfchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfchronicle.com Daily Mail and Mail on Sunday newspapers.
Senate Majority Leader Rich Wardner said the original proposal he unveiled at a press conference earlier this month will be withdrawn and a more modest package worth nearly $800 million will take its place as the leading contender to land on the governor's desk.
Senate Majority Leader Rich Wardner, the Republican legislative caucus bosses, and two of the loudest voices backing Delzer s not-at-all democratic return to their chambers.
What does the bill do? It writes the statute the Legislature claimed, in their legal dispute with Burgum, already existed in the Century Code.
It states that if a candidate who has been placed on the ballot for the legislature dies, or becomes unqualified, yet received enough votes to win, a vacancy occurs, and it will be filled by the statutory process used for filling other legislative vacancies.
The bill also makes it clear that the Governor is not to be appointing people to the Legislature. The governor may not fill a vacancy in the office of a member of the legislative assembly, it states in a later section.