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ND HB1504

Bill

Official Source

Status

Introduced

1/14/2019

Primary Sponsor

Keith Kempenich

Click for details

Origin

House of Representatives

66th Legislative Assembly

AI Summary

  • Creates a new special fund in the state treasury called the legacy earnings fund within chapter 54-27 of the North Dakota Century Code
  • Requires the state treasurer to immediately transfer any legacy fund earnings exceeding five percent of the four-year average value of legacy fund assets to the legacy earnings fund
  • Defines the average value of legacy fund assets using the ending values from the most recent four fiscal years
  • Declares the act an emergency measure

Legislative Description

The legacy earnings fund and transfers of legacy fund earnings; and to declare an emergency.

Last Action

Second reading, failed to pass, yeas 25 nays 67

2/14/2019

Committee Referrals

Finance and Taxation1/14/2019

Full Bill Text

No bill text available