The bill amends sections 57-51-15 and 57-51.1-07.5 of the North Dakota Century Code, focusing on the allocation of oil and gas gross production tax revenues. It introduces a new requirement for a legislative management report and removes the previous effective date through June 30, 2027. The bill outlines a detailed allocation process for tax revenues, specifying distributions to various state and local entities, including the North Dakota outdoor heritage fund and the abandoned oil and gas well plugging and site reclamation fund. It establishes a framework for revenue distribution based on the amounts allocated to counties, with different provisions for those receiving less than or more than five million dollars.

Additionally, the bill increases the initial deposit into the state general fund from two hundred thirty million dollars to two hundred fifty million dollars and adjusts allocations to the strategic investment and improvements fund from four hundred million dollars to three hundred sixty million dollars. It mandates that hub cities use allocated funding for debt repayments related to oil and gas development incurred between July 1, 2012, and December 31, 2025. The bill also specifies temporary exemptions for allocations to the North Dakota outdoor heritage fund and the oil and gas research fund, with changes effective for allocations occurring after August 31, 2025.

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