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ND SB2033
Bill
Status
1/6/2015
Primary Sponsor
Legislative Management
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AI Summary
SB2033 Summary
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Tax commissioner shall determine by March 1 of each even-numbered year whether state oil and gas gross production tax and oil extraction tax actual revenues from July 1 through December 31 of the preceding year exceed the legislative forecast by 20 percent or more.
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State treasurer shall allocate funds from the strategic investment and improvements fund among political subdivisions in a single April allocation if the 20 percent threshold is met, distributed proportionally based on allocations received under section 57-51-15 during the preceding September-February period.
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Allocated amounts shall not be counted as revenue received by political subdivisions for purposes of chapter 57-51.
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Contingent appropriation of up to $200,000,000 from the strategic investment and improvements fund is authorized to the state treasurer for allocation among political subdivisions from April 1, 2016, through June 30, 2017, if tax revenues exceed the legislative forecast.
Legislative Description
Appropriation of a portion of state oil and gas tax revenue exceeding forecasted amounts for distribution in the second year of the state biennium to supplement oil and gas gross production tax funding to political subdivisions; and to provide a contingent appropriation.
Last Action
Second reading, failed to pass, yeas 7 nays 40
2/25/2015