Tag: Legacy Fund

Bill requiring Legacy Fund disclosure website sees support in North Dakota Legislature

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by: MinotVoice  |  

North Dakotans may soon get a clearer view of where their $12 billion Legacy Fund is invested. A bill passed unanimously by the Senate would create a dedicated website listing the fund’s holdings—an effort to make public information more accessible and transparent. While some investment details remain confidential due to contract limits, state officials say

Read & Share   sourced from: North Dakota Monitor

Interim leader appointed to head North Dakota Legacy Fund, other state investments

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By: Mary Steurer, North Dakota Monitor |

The North Dakota State Investment Board on Friday named former Land Commissioner Jodi Smith as interim executive director of the Retirement and Investment Office. On Friday, board members also elected Gov. Kelly Armstrong as chair. The position has historically been delegated to the lieutenant governor, but Armstrong chose to serve on the board. Smith is

Read & Share   sourced from: North Dakota Monitor

A Plan to Spend the Legacy Fund? 

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by: Josh Wolsky  |  

Projected Legacy Fund earnings for the next biennium are $550 million. That’s a lot of money to work with, and ND House Majority Leader Mike Lefors has a plan for it. House Bill 1379 outlines the earmarks, but it’s a combination of tax relief and strategic investments. Get the full story from Jeremy Turley writing

Read & Share   sourced from: Dickinson Press

Amended resolution would have committee study uses of Legacy Fund earnings

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by: Josh Wolsky  |  

While nothing is set in law yet, the legislature appears headed toward taking time to study how to best use Legacy Fund earnings. The uses of this already-large ($5.6 billion) and still-growing pile of money are sure to be a legislative topic far into the future. Jack Dura with the Bismarck Tribune has the details

Read & Share   sourced from: Bismarck Tribune

ND attorney general says state can start tapping Legacy Fund earnings in 2017

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by: Josh Wolsky  |  

June 30, 2017, is an important date for the state’s Legacy Fund. After that, earnings from the fund can be transferred to the state’s general fund. Earnings from prior to that are considered part of the principal and can only be spent by two-thirds majority vote in both houses of the legislature. The fund currently

Read & Share   sourced from: InForum

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North Dakota’s Legacy Fund Diversifies Investments

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by: Josh Wolsky  |  

  The financial state of North Dakota is strong right now with more than $3.2 billion in the legacy fund, and the manner in which that money is managed and invested is helping it grow. But as always, it’s a delicate balance between risk and reward.

Read & Share   sourced from: KMOT