The bill amends and reenacts section 57-51.1-07.9 of the North Dakota Century Code, which pertains to the state energy research center fund. It establishes a continuing appropriation for this fund, ensuring that one percent of oil and gas gross production tax and oil extraction tax revenues are deposited monthly into the fund, with a cap of seven million five hundred thousand dollars per biennium. The funds, along with any interest accrued, are continuously appropriated to the industrial commission for distribution to the state energy research center, which is required to utilize the funds in accordance with section 15-11-40.

Additionally, the bill specifies that the provisions will remain effective through June 30, 2029, extending the timeline for the fund's operation. This legislative change aims to provide a stable financial foundation for the state energy research center, facilitating ongoing research and development in energy initiatives within North Dakota.

Statutes affected:
INTRODUCED: 57-51.1-07.9
Prepared by the Legislative Council staff for House Appropriations Committee: 57-51.1-07.9
Enrollment: 57-51.1-07.9