Legislature OKs repayment of millions to shortchanged funds
BISMARCK, N.D. (AP) — North Dakota’s Republican-led Legislature has passed a bill to reimburse millions of dollars of oil tax money to funds that benefit water projects and schools.
The House unanimously passed the Senate measure Friday. The Senate approved the bill Monday. It now goes to Gov. Doug Burgum for review.
Senate Majority Leader Rich Wardner introduced a proposal last month that would transfer $64.3 million to the common schools trust fund later this year and $128 million to the resources trust fund over many years.
The move comes after Burgum and a growing number of lawmakers believe the funds have been shortchanged for years.
At issue is whether revenue from state taxes on the oil-rich Fort Berthold Reservation should have been deposited in the funds.