ND HB1399

Creates the oil and gas tax revenue hedging fund in the state treasury, consisting of legislative transfers, interest, earnings, and proceeds from hedging financial instruments.

Establishes an advisory committee chaired by the director of the office of management and budget, including one senator, one representative, the Bank of North Dakota president, and the director of the department of mineral resources to recommend hedging strategies.

Appropriates $20,000,000 from the general fund to the hedging fund during the period from the effective date through June 30, 2025, with intent that excess amounts generated from hedging strategies be used to repay the general fund.

Requires the advisory committee to meet at least quarterly, submit quarterly reports to legislative management on hedging strategy results, and certify the fund balance on June 30th each year.

Directs the state treasurer to transfer any hedging fund balance exceeding $20,000,000 to the strategic investment and improvements fund by September 30th of each fiscal year.