Oil & Gas Legacy Fund Sees Record High Monthly Deposit
North Dakota’s constitutionally established Legacy Fund balance now stands at $2.2 billion, after a record monthly deposit of $112 million this month. The fund is projected to reach at least $2.68 billion by January 2015. The Legacy Fund revenues are generated from 30 percent of the state’s oil and gas production tax. State law also requires that 25 percent of any balance above $300 million in the Strategic Investment and Improvement Fund be deposited into the Legacy Fund. Read more in Prairie Business Magazine.