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ND HCR3042

Concurrent Resolution

Official Source

Status

Introduced

2/20/2015

Primary Sponsor

William Kretschmar

Click for details

Origin

House of Representatives

64th Legislative Assembly

AI Summary

  • State treasurer must transfer four percent of the legacy fund to the state general fund at the end of each fiscal year, beginning in 2018
  • Transfer amount changes from "earnings accruing after June 30, 2017" to "four percent of the funds" paid on a fiscal year basis instead of biennial basis
  • Legacy fund principal and earnings remain unavailable for expenditure until after June 30, 2017, with expenditures requiring a two-thirds legislative vote
  • Statutory programs for impact grants, direct revenue allocations to political subdivisions, and oil and gas research deposits must remain in effect, though legislative assembly may adjust allocations
  • Proposed constitutional amendment to be submitted to North Dakota voters at the 2016 general election, effective January 1, 2018

Legislative Description

The use of funds in the legacy fund; and to provide an effective date.

Last Action

Second reading, failed to adopt yeas 23 nays 68

3/9/2015

Committee Referrals

Appropriations2/20/2015

Full Bill Text

No bill text available