N.D. Cent. Code § 57-51.1-07.3

Current through 2024 Legislative Session

Section 57-51.1-07.3 - Oil and gas research fund - Deposits - Continuing appropriation

There is established a special fund in the state treasury to be known as the oil and gas research fund. Before depositing oil and gas gross production tax and oil extraction tax revenues under section 57-51.1-07.5, two percent of the revenues must be deposited monthly into the oil and gas research fund, up to ten million dollars per biennium. All moneys deposited in the oil and gas research fund and interest on all such moneys are appropriated as a continuing appropriation to the council to be used for purposes stated in chapter 54-17.6.

N.D.C.C. § 57-51.1-07.3

Amended by S.L. 2019 , ch. 504( HB 1066 ), § 4, eff. 7/1/2019.

Amended by S.L. 2017 , ch. 402( HB 1152 ), § 1, eff. 4/28/2017, op. 7/1/2017.

Amended by S.L. 2015 , ch. 467( HB 1377 ), § 3, effective for tax collections received by the tax commissioner and for royalty, bonus, and other revenues received for deposit into the strategic investment and improvements fund after 6/30/2015.

Amended by S.L. 2013 , ch. 45( SB 2014 ), § 30, eff. 7/1/2013.

Amended by S.L. 2011 , ch. 483( HB 1451 ), § 8, eff. 7/1/2011.