N.D. Cent. Code § 57-51.1-07.5

Current through 2024 Legislative Session

Section 57-51.1-07.5 - State share of oil and gas taxes - Deposits

From the revenues designated for deposit in the state general fund under chapters 57-51 and 57-51.1, the state treasurer shall deposit the revenues received each biennium in the following order:

1. The first two hundred thirty million dollars into the state general fund;

2. The next two hundred fifty million dollars into the social service fund;

3. The next seventy-five million dollars into the budget stabilization fund, but not in an amount that would bring the balance in the fund to more than the limit in section 54-27.2-01;

4. The next two hundred thirty million dollars into the state general fund;

5. The next ten million dollars into the lignite research fund;

6. The next twenty million dollars into the state disaster relief fund, but not in an amount that would bring the unobligated balance in the fund to more than twenty million dollars;

7. The next four hundred million dollars into the strategic investment and improvements fund;

8. The next sixty-five million dollars to the public employees retirement fund for the main system plan;

9. The next fifty-nine million seven hundred fifty thousand dollars, or the amount necessary to provide for twice the amount of the distributions under subsection 2 of section 57-51.1-07.7, into the funds designated for infrastructure development in non-oil-producing counties under sections 57-51.1-07.7 and 57-51.1-07.8 with fifty percent deposited into the municipal infrastructure fund and fifty percent deposited into the county and township infrastructure fund;

10. The next one hundred seventy million two hundred fifty thousand dollars or the amount necessary to provide a total of two hundred thirty million dollars into the funds designated for infrastructure development in non-oil-producing counties under sections 57-51.1-07.7 and 57-51.1-07.8 with fifty percent deposited into the municipal infrastructure fund and fifty percent deposited into the county and township infrastructure fund;

11. The next twenty million dollars into the airport infrastructure fund; and

12. Any additional revenues into the strategic investment and improvements fund.

N.D.C.C. § 57-51.1-07.5

Amended by S.L. 2023, ch. 514 (HB 1040),§ 31, eff. 8/1/2023.

Amended by S.L. 2023 , ch. 559( SB 2367 ), § 1, eff. 8/1/2023.

Amended by S.L. 2021 , ch. 15( HB 1015 ), § 35, eff. 7/1/2021.

Amended by S.L. 2021 , ch. 482( SB 2249 ), § 1, eff. 7/1/2021 for taxable events occurring after 6/30/2021.

Amended by S.L. 2019 , ch. 41( SB 2016 ), § 9, eff. 7/1/2019.

Amended by S.L. 2019 , ch. 504( HB 1066 ), § 5, eff. 7/1/2019.

Amended by S.L. 2017 , ch. 402( HB 1152 ), § 2, eff. 4/27/2018, op. 7/1/2017.

Amended by S.L. 2015, ch. 467 (HB 1377),§ 4, eff. 7/1/2017.

Amended by S.L. 2015, ch. 467 (HB 1377),§ 4, 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.

Added by S.L. 2011 , ch. 483( HB 1451 ), § 9, eff. 7/1/2011.