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ND SB2367

Bill

Official Source

Status

Passed

4/17/2023

Primary Sponsor

David Hogue

Click for details

Origin

Senate

68th Legislative Assembly

AI Summary

  • Changes the "tax relief" fund designation to "social services" fund, receiving the next $250 million in biennial oil and gas tax revenues after initial $230 million to the general fund
  • Establishes a prioritized deposit sequence for oil and gas tax revenues into multiple state funds including the budget stabilization fund ($75 million), lignite research fund ($10 million), and state disaster relief fund ($20 million)
  • Allocates $400 million to the strategic investment and improvements fund, with additional revenues beyond all other allocations flowing into this fund
  • Dedicates $59.75 million or amount necessary to provide twice the distributions under section 57-51.1-07.7 for infrastructure development in non-oil-producing counties, split equally between municipal and county/township infrastructure funds
  • Allocates $20 million to the airport infrastructure fund in the deposit sequence

Legislative Description

The allocation of the state share of oil and gas taxes.

Last Action

Filed with Secretary Of State 04/14

4/18/2023

Committee Referrals

Finance and Taxation2/22/2023
Appropriations2/1/2023
Finance and Taxation1/25/2023
Energy and Natural Resources1/23/2023

Full Bill Text

No bill text available