The North Dakota Oil Tax Revenues Act, Measure 1
appeared on the November 8, 1994 statewide ballot
as a legislatively-referred constitutional amendment
where it was approved.
The measure required equal portions of oil extraction tax revenues to be deposited in common schools trust fund and foundation aid stabilization fund.
| Measure 1|
| Yes'|| '|| 75%|
Text of measure
The ballot title read:
This measure requires a portion of oil extraction tax revenues to be deposited in the common schools trust fund and an equal portion to be deposited in the foundation aid stabilization fund, with income of the foundation aid stabilization fund to be transferred to the state general fund. Beginning July 1, 1995, the amount of extraction tax revenue deposited in the two funds pursuant to this measure would equal twenty percent of the extraction tax revenue from taxable oil produced in the state.
Path to the ballot
- See also: Amending the North Dakota Constitution
According to the North Dakota Constitution an amendment proposed by either the House or the Senate required only majority approval.