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Bill Requiring Legacy Fund Disclosure Sees Support in North Dakota Legislature

By Bill Dubensky Apr 7, 2025 | 4:04 AM

State Rep. Bernie Satrom, R-Jamestown.  (Michael Achterling/North Dakota Monitor)

 

(By: . North Dakota Monitor) – The state may soon start development on a new website detailing its Legacy Fund holdings after the North Dakota Senate last week unanimously passed an investment transparency bill.

The Legacy Fund, worth more than $12 billion as of January, is a state trust fund supported by oil revenue. It was created by a ballot measure approved by voters in 2010 with the goal of being a source of perpetual revenue for the state.

House Bill 1319, sponsored by Rep. Bernie Satrom, R-Jamestown, says the website must include all Legacy Fund “companies, funds and other financial mechanisms in which the Legacy Fund is invested,” so long as the information may be disclosed under state and federal law.

“Some people don’t care what they’re invested in,” Satrom said in February testimony on the bill before the House Finance and Taxation Committee. “To me, it matters.”

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