The bill amends sections 57-51-15 and 57-51.1-07.5 of the North Dakota Century Code to revise the allocation of oil and gas gross production tax revenues. It introduces a new reporting requirement for these allocations and removes the previous effective date of June 30, 2027. The bill specifies the distribution of tax revenues to various funds, including the North Dakota Outdoor Heritage Fund and the abandoned oil and gas well plugging and site reclamation fund, while detailing how remaining revenues will be allocated to counties and the state general fund. It also establishes a framework for distributing funds to counties based on their allocations, with specific provisions for those receiving less or more than five million dollars.

Furthermore, the bill creates a hub city debt relief funding pool to assist hub cities with outstanding debts related to oil and gas development, and it modifies the maximum allowable balance for the abandoned oil and gas well plugging and site reclamation fund from fifty million to one hundred million dollars until June 30, 2027. It mandates that the state treasurer distribute funds to support school districts and hub cities based on their impact scores, calculated using employment and population metrics. The bill emphasizes transparency by requiring hub cities to report on the use of funds and their outstanding debts, while also establishing temporary exemptions for allocations to the North Dakota Outdoor Heritage Fund and the Oil and Gas Research Fund for specific periods.

Statutes affected:
INTRODUCED: 57-51-15, 57-51.1-07.5
Prepared by the Legislative Council staff for Senate Appropriations Committee: 57-51-15, 57-51.1-07.5
FIRST ENGROSSMENT: 57-51-15, 57-51.1-07.5
Prepared by the Legislative Council staff for Representative Headland: 57-51-15, 57-51.1-07.5
Prepared by the Legislative Council staff for Representative Richter: 57-51-15, 57-51.1-07.5
Enrollment: 57-51-15, 57-51.1-07.5