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ND SCR4026

Concurrent Resolution

Official Source

Status

Introduced

2/26/2013

Primary Sponsor

Tony Grindberg

Click for details

Origin

Senate

63rd Legislative Assembly

AI Summary

  • Amends North Dakota Constitution to allow transfer of $450 million from the legacy fund to a new legacy scholarship fund on July 1, 2018
  • Legacy scholarship fund principal cannot be spent; only earnings may be used by the legislature for scholarships to eligible state residents attending accredited in-state higher education institutions
  • Modifies legacy fund expenditure rules to require two-thirds legislative vote for principal expenditures after June 30, 2017, with a 15 percent per-biennium spending limit
  • Requires constitutional amendment to be submitted to North Dakota voters at the 2014 general election
  • Maintains existing statutory programs for impact grants, direct revenue allocations, and oil and gas research fund deposits

Legislative Description

The legacy fund.

Last Action

Second reading, failed to adopt yeas 14 nays 29

3/15/2013

Committee Referrals

Education2/26/2013

Full Bill Text

No bill text available