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Message: <blockquote data-quote="Allen" data-source="post: 335473" data-attributes="member: 389">I don't know why we would think it should be undone, or anything like that.  The Legacy fund was originally intended to take money from the Clampetts and build a nice bankroll that would eventually put a good portion of ND's general fund on its shoulders.It would seem to be coming to fruition.  Note that $800+ million it put into the general fund for the 2019-2021 biennium.  Without the Legacy fund, we would either be just like every other state (and our federal govt) and be running some red ink to support our lifestyle, or our other taxes would have to go up to cover the missing revenue.  While I am NOT a fan of being Alaska where we would distribute the monies to the general population via direct checks, I am a fan of minimizing our tax burden.  As far as projects go that were mentioned and possibly being wasteful spending, that's a different topic.  Those should live or die on their own, regardless of where we get the money from for initial construction.  Anyone been to the Cowboy Museum out in Medora?  I have, a couple of times.  It's not like there's a waiting line out the front door to get in.  It would be nice to get to the point where we have no state income tax, or all the extra taxes that states who currently have no income tax use to support their general fund.<a href="https://www.treasurer.nd.gov/north-dakota-legacy-fund-0" target="_blank">https://www.treasurer.nd.gov/north-dakota-legacy-fund-0</a>[FONT=&quot][h=1]North Dakota Legacy Fund[/h][/FONT][FONT=&quot]In 2009, the Legislative Assembly passed House Concurrent Resolution No. 3054, which placed the question of creating the Legacy Fund on the 2010 general election ballot.  North Dakota voters approved the measure which created a perpetual source of state revenue from the finite national resources of oil and natural gas.  The Legacy Fund was created as <a href="https://www.legis.nd.gov/constit/a10.pdf" target="_blank">Article X, Section 26, of the Constitution of North Dakota</a>.The first constitutionally mandated transfer of Legacy Fund earnings to the General Fund occurred in July of 2019.  The total amount transferred for the 2017-2019 Biennium was $455,263,216. This amount increased to $871,687,384 for the 2019-2021 Biennium.The investment of the Legacy Fund is under the purview of the Retirement and Investment Office.  To view monthly financial statements for the fund, please visit RIO's <a href="https://www.rio.nd.gov/legacy-fund" target="_blank">website</a>.[/FONT]</blockquote>

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