On Tuesday, Aug. 22, members of the Legislative Finance Committee (LFC) took a field trip to the Upper Gallinas Watershed led by the Hermit’s Peak Watershed Alliance. There, legislators learned
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.
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.