ND HB1037

Creates a new legacy earnings fund in the state treasury to receive legacy fund earnings transferred from the general fund at the end of each biennium per the North Dakota Constitution.

State treasurer must immediately transfer legacy fund earnings to the legacy earnings fund, with excess amounts retained as a reserve balance to supplement earnings in low-earning bienniums.

Sets the amount available for appropriation from the legacy earnings fund at six percent of the five-year average value of legacy fund assets as reported by the state investment board.

Adds the legacy earnings fund to the list of funds that the state investment board shall invest under section 21-10-06 of the North Dakota Century Code.