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
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
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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
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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 News