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ND SB2351
Bill
Status
1/28/2013
Primary Sponsor
Dwight Cook
Click for details
AI Summary
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Amends revenue shortfall procedures to prioritize transferring up to $300 million from the strategic investment and improvements fund to the general fund before accessing the budget stabilization fund.
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Establishes a three-step process for offsetting revenue shortfalls: first transfer from strategic investment fund (up to $300 million), then reduce general fund appropriations through allotments (up to 2.5%), then transfer remaining amounts from budget stabilization fund.
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Modifies oil and gas tax revenue deposits by eliminating a $100 million allocation to the general fund and renumbering subsequent deposit categories into the strategic investment and improvements fund and state disaster relief fund.
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Becomes effective July 1, 2013, and is declared an emergency measure.
Legislative Description
The budget stabilization fund, the strategic investment and improvements fund, and oil and gas tax revenue deposits; to provide an effective date; and to declare an emergency.
Last Action
Second reading, failed to pass, yeas 0 nays 47
2/26/2013