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Lawmakers want to invest Legacy Fund in North Dakota firms, infrastructure loans

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
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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. ....

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Lawmakers want to invest oil tax revenue 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. ....

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'Invest in North Dakota' advocates call for targeting Legacy Fund investments at home

Invest in North Dakota advocates call for targeting Legacy Fund investments at home
By investing the Legacy Fund’s wealth on Wall Street, North Dakota is transferring economic opportunities to other states and abroad, according to advocates of using the fund to spur the state s economy.
Written By: Patrick Springer
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BISMARCK Interest is growing in using a portion of the $7.9 billion Legacy Fund’s earnings to invest in North Dakota companies and communities to boost the state’s economy.
Insurance Commissioner Jon Godfread, who serves on the State Investment Board, is pushing to have 20% of the fund’s earnings dedicated to investments in North Dakota, with 10% going to buy bonds and 10% for stock in state companies. ....

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