North Dakota governor signs bill to repay millions to shortchanged funds

BISMARCK, N.D. (AP) — North Dakota Gov. Doug Burgum has signed legislation to reimburse millions of dollars of oil tax money to funds that benefit water projects and schools.

Burgum signed the bill Thursday that will transfer $64.3 million to the common schools trust fund later this year and $128 million to the resources trust fund over many years.

The legislation was crafted after Burgum and some lawmakers believed the funds were shortchanged for years.

At issue is whether revenue from state taxes on the oil-rich Fort Berthold Reservation should have been deposited in the funds.

Republican leaders originally had drafted legislation that would only send money to the funds moving forward.

GOP Senate Majority Leader Rich Wardner and House counterpart Chet Pollert say the bill signed by the governor is a good compromise.

Categories: North Dakota News