The first investment of North Dakota Legacy Fund dollars into an in-state infrastructure project could be made in early 2026 and help bolster a proposed pipeline to export natural gas out of the Bakken oil field. The state has allocated $150 million[...]
Tag: Legacy Fund
News |
Controversial oil refinery under consideration for possible Legacy Fund investment
A long-stalled oil refinery proposed near Theodore Roosevelt National Park recently appeared on a short list of projects being considered for North Dakota Legacy Fund investment. Meridian Energy Group first proposed the Davis Refinery for a site near Belfield in 2016. The[...]
News |
Port: State Investment Board to consider more than $1.2M in controversial bonuses
Big bonuses for North Dakota’s investment staff are back on the agenda, and they’re stirring up familiar debate. On Friday, the State Investment Board will weigh more than $1.2 million in incentive pay for the employees who manage pension funds, the Legacy[...]
Commentary |
Forum Editorial: The Legacy Fund is opaque and not living up to its potential
North Dakotans expect the Legacy Fund to be a safeguard for the future, not a mystery box. But a growing share of its money—more than $3 billion—is tied up in investment pools the public can’t see into and state officials can’t fully[...]
News |
Bill requiring Legacy Fund disclosure website sees support in North Dakota Legislature
North Dakotans may soon get a clearer view of where their $12 billion Legacy Fund is invested. A bill passed unanimously by the Senate would create a dedicated website listing the fund’s holdings—an effort to make public information more accessible and transparent.[...]
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News |
Interim leader appointed to head North Dakota Legacy Fund, other state investments
The North Dakota State Investment Board on Friday named former Land Commissioner Jodi Smith as interim executive director of the Retirement and Investment Office. On Friday, board members also elected Gov. Kelly Armstrong as chair. The position has historically been delegated to[...]
News |
A Plan to Spend the Legacy Fund?
Projected Legacy Fund earnings for the next biennium are $550 million. That’s a lot of money to work with, and ND House Majority Leader Mike Lefors has a plan for it. House Bill 1379 outlines the earmarks, but it’s a combination of[...]
News |
Amended resolution would have committee study uses of Legacy Fund earnings
While nothing is set in law yet, the legislature appears headed toward taking time to study how to best use Legacy Fund earnings. The uses of this already-large ($5.6 billion) and still-growing pile of money are sure to be a legislative topic[...]
News |
ND attorney general says state can start tapping Legacy Fund earnings in 2017
June 30, 2017, is an important date for the state’s Legacy Fund. After that, earnings from the fund can be transferred to the state’s general fund. Earnings from prior to that are considered part of the principal and can only be spent[...]
News |
North Dakota’s Legacy Fund Diversifies Investments
The financial state of North Dakota is strong right now with more than $3.2 billion in the legacy fund, and the manner in which that money is managed and invested is helping it grow. But as always, it’s a delicate balance[...]
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