North Dakota Amendment 1, State Legacy Fund Establishment Amendment (2010)
| North Dakota Amendment 1 | |
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| Election date |
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| Topic Fuel taxes and Severance taxes |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
North Dakota Amendment 1 was on the ballot as a legislatively referred constitutional amendment in North Dakota on November 2, 2010. It was approved.
A "yes" vote supported establishing a North Dakota legacy fund, provide for deposit of certain oil and gas tax revenues in the fund and impose limitations on use of moneys in the fund. |
A "no" vote opposed establishing a North Dakota legacy fund, provide for deposit of certain oil and gas tax revenues in the fund and impose limitations on use of moneys in the fund. |
Election results
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North Dakota Amendment 1 |
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| Result | Votes | Percentage | ||
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141,783 | 63.57% | ||
| No | 81,245 | 36.43% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for Amendment 1 was as follows:
| “ | 1. Thirty percent of total revenue derived from taxes on oil and gas production or extraction must be transferred by the state treasurer to a special fund in the state treasury known as the legacy fund. The legislative assembly may transfer funds from any source into the legacy fund and such transfers become part of the principal of the legacy fund. 2. The principal and earnings of the legacy fund may not be expended until after June 30, 2017, and an expenditure of principal after that date requires a vote of at least two-thirds of the members elected to each house of the legislative assembly. Not more than fifteen percent of the principal of the legacy fund may be expended during a biennium. 3. Statutory programs, in existence as a result of legislation enacted through 2009, providing for impact grants, direct revenue allocations to political subdivisions, and deposits in the oil and gas research fund must remain in effect but the legislative assembly may adjust statutory allocations for those purposes. The state investment board shall invest the principal of the North Dakota legacy fund. The state treasurer shall transfer earnings of the North Dakota legacy fund accruing after June 30, 2017, to the state general fund at the end of each biennium. | ” |
Path to the ballot
- See also: Amending the North Dakota Constitution
A simple majority vote is required during one legislative session for the North Dakota State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 48 votes in the North Dakota House of Representatives and 24 votes in the North Dakota State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of North Dakota Bismarck (capital) |
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