23.0202.02000
Sixty-eighth
Legislative Assembly HOUSE BILL NO. 1227
of North Dakota
Introduced by
Representatives Kempenich, Bosch, Cory, Mock, Swiontek, Thomas, Vigesaa
Senators Klein, Meyer, Patten
1 A BILL for an Act to create and enact a new section to chapter 54-03 of the North Dakota
2 Century Code, relating to a cost-benefit analysis for a measure or policy affecting the legacy
3 fund.
4 BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
5 SECTION 1. A new section to chapter 54-03 of the North Dakota Century Code is created
6 and enacted as follows:
7 Legacy fund - Cost-benefit analysis - Legacy and budget stabilization fund advisory
8 board - State retirement and investment office - Legislative management procedures.
9 1. The legacy and budget stabilization fund advisory board shall review any legislative
10 measure, initiated or referred measure, or asset allocation and investment policy
11 affecting the legacy fund. If the advisory board determines the measure or policy
12 affects the legacy fund, the advisory board shall request the state retirement and
13 investment office to arrange for the preparation and submission of a cost-benefit
14 analysis.
15 2. The cost-benefit analysis must:
16 a. Include the estimated fiscal impact of the measure or policy for the next biennium
17 and for the next ten bienniums.
18 b. Be prepared by an independent consultant paid by the state retirement and
19 investment office.
20 3. If the legislative management determines a legislative measure affects the legacy
21 fund, the measure may not be referred to a committee of the legislative assembly
22 unless a cost-benefit analysis is appended to that measure.
23 a. If a committee of the legislative assembly determines a measure affecting the
24 legacy fund was referred to committee without a cost-benefit analysis, the
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1 committee shall request a cost-benefit analysis. The committee may not act on
2 the measure unless the measure is accompanied by the cost-benefit analysis.
3 b. If a committee of the legislative assembly determines a proposed amendment to
4 a measure affects the legacy fund, the committee may not act on the proposed
5 amendment unless the amendment is accompanied by a cost-benefit analysis or
6 amended cost-benefit analysis.
7 4. The legislative management shall adopt a procedure for identifying measures and
8 proposed measures affecting the legacy fund. The procedure must include solicitation
9 of draft measures and proposals during the interim between legislative sessions from
10 legislators and agencies with bill introduction privileges and must include deadlines for
11 identification of the measures or proposals. If the legacy and budget stabilization fund
12 advisory board has not requested a cost-benefit analysis for a measure or proposed
13 measure, the legislative management shall request the state retirement and
14 investment office to arrange for the preparation and submission of a cost-benefit
15 analysis.
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