ND HB1143

Adds the legacy and budget stabilization fund board to section 21-10-02.1 so it must establish policies on investment goals, objectives, and asset allocation for both funds.

Removes the budget stabilization fund and legacy fund from the list of funds under state investment board supervision in section 21-10-06, transferring their oversight to the legacy and budget stabilization fund board.

Changes the legacy and budget stabilization fund advisory board from providing recommendations to directly directing investment of the legacy and budget stabilization funds, with approval authority over general types of securities.

Updates investment goal language from "principal preservation" for the legacy fund alone to "achieving principal preservation while maximizing total return for the funds" for both funds combined.

Transfers budget stabilization fund supervision from the state investment board to the legacy and budget stabilization fund board under section 21-10-11 in section 54-27.2-01.